Zacks Investment Research Upgrades Avenue Therapeutics (NASDAQ:ATXI) to Buy
Avenue Therapeutics (NASDAQ:ATXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The brokerage presently has a $7.50 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 19.05% from the stock’s current price.
According to Zacks, “Avenue Therapeutics, Inc. is a specialty pharmaceutical company. It acquires, licenses, develops and commercializes products principally for use in the acute/intensive care hospital setting. Avenue Therapeutics, Inc. is based in New York, United States. “
Separately, HC Wainwright reaffirmed a “hold” rating and set a $6.00 price objective on shares of Avenue Therapeutics in a research note on Friday, December 18th.
Avenue Therapeutics (NASDAQ:ATXI) last issued its quarterly earnings data on Tuesday, March 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). Equities analysts forecast that Avenue Therapeutics will post -0.3 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Avenue Therapeutics by 5.5% in the 4th quarter. BlackRock Inc. now owns 361,486 shares of the company’s stock worth $2,150,000 after acquiring an additional 18,744 shares during the last quarter. National Asset Management Inc. increased its position in shares of Avenue Therapeutics by 15.0% in the fourth quarter. National Asset Management Inc. now owns 167,787 shares of the company’s stock worth $999,000 after purchasing an additional 21,900 shares during the last quarter. Northern Trust Corp raised its stake in Avenue Therapeutics by 2.1% in the fourth quarter. Northern Trust Corp now owns 82,691 shares of the company’s stock valued at $492,000 after purchasing an additional 1,726 shares in the last quarter. State Street Corp lifted its position in Avenue Therapeutics by 9.5% during the third quarter. State Street Corp now owns 73,316 shares of the company’s stock valued at $794,000 after purchasing an additional 6,372 shares during the last quarter. Finally, Morgan Stanley grew its stake in Avenue Therapeutics by 270.9% in the 3rd quarter. Morgan Stanley now owns 22,706 shares of the company’s stock worth $246,000 after buying an additional 16,584 shares in the last quarter. 16.39% of the stock is owned by institutional investors.
About Avenue Therapeutics
Avenue Therapeutics, Inc, a specialty pharmaceutical company, acquires, licenses, develops, and commercializes products primarily for use in the acute/intensive care hospital setting. Its product candidate is intravenous Tramadol, which is in Phase III clinical trials to treat moderate to moderately severe post-operative pain.
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