It is Poised to be a Bull Market for Athenex Inc. (ATNX)

Athenex Inc. (NASDAQ: ATNX) stock jumped 51.61% on Friday to $0.95 against a previous-day closing price of $0.63. With 13.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.12 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $0.9948 whereas the lowest price it dropped to was $0.8404. The 52-week range on ATNX shows that it touched its highest point at $3.91 and its lowest point at $0.41 during that stretch. It currently has a 1-year price target of $2.33. Beta for the stock currently stands at 1.07.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ATNX was up-trending over the past week, with a rise of 88.36%, but this was up by 79.17% over a month. Three-month performance surged to 83.37% while six-month performance fell -0.01%. The stock lost -75.13% in the past year, while it has lost -29.78% so far this year. A look at the trailing 12-month EPS for ATNX yields -1.68 with Next year EPS estimates of -0.38. For the next quarter, that number is -0.15. This implies an EPS growth rate of -10.60% for this year and 50.80% for next year.

Float and Shares Shorts:

At present, 113.01 million ATNX shares are outstanding with a float of 93.20 million shares on hand for trading. On Jul 14, 2022, short shares totaled 2.56 million, which was 2.17% higher than short shares on Jun 14, 2022. In addition to Dr. Yiu-Nam Lau F.R.C.P., M.B.B.S., M.D., Ph.D. as the firm’s Chairman & CEO, Mr. Jeffrey M. Yordon serves as its COO & Pres of Athenex Pharmaceutical Division.

Institutional Ownership:

Through their ownership of 41.58% of ATNX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 8.35% of ATNX, in contrast to 27.96% held by mutual funds. Shares owned by individuals account for 27.01%. As the largest shareholder in ATNX with 12.10% of the stake, Perceptive Advisors LLC holds 13,532,467 shares worth 13,532,467. A second-largest stockholder of ATNX, BlackRock Fund Advisors, holds 5,788,312 shares, controlling over 5.18% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in ATNX, holding 3,775,905 shares or 3.38% stake. With a 2.32% stake in ATNX, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,588,657 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.95% of ATNX stock, is the second-largest Mutual Fund holder. It holds 1,063,900 shares valued at 0.44 million. DWS Variable II – Small Mid Cap V holds 0.75% of the stake in ATNX, owning 837,899 shares worth 0.34 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ATNX since 3 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ATNX analysts setting a high price target of $4.00 and a low target of $1.00, the average target price over the next 12 months is $2.33. Based on these targets, ATNX could surge 321.05% to reach the target high and rise by 5.26% to reach the target low. Reaching the average price target will result in a growth of 145.26% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ATNX will report FY 2022 earnings on 03/14/2023. Analysts have provided yearly estimates in a range of -$0.61 being high and -$0.87 being low. For ATNX, this leads to a yearly average estimate of -$0.72. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Athenex Inc. surprised analysts by -$0.13 when it reported -$0.28 EPS against a consensus estimate of -$0.15. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is -$0.09 and the low estimate is -$0.20. The average estimate for the next quarter is thus -$0.15.

Summary of Insider Activity:

Insiders traded ATNX stock several times over the past three months with 16 Buys and 0 Sells. In these transactions, 135,277 shares were bought while 0 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 315,527 while 0 shares were sold.

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