Avenue Therapeutics (NASDAQ:ATXI) Stock Rating Upgraded by Zacks Investment Research

Avenue Therapeutics (NASDAQ:ATXI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

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. “

Several other analysts also recently issued reports on the company. ValuEngine raised Avenue Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, November 2nd. HC Wainwright reaffirmed a “hold” rating and issued a $6.00 price objective on shares of Avenue Therapeutics in a research note on Friday, December 18th.

NASDAQ ATXI opened at $6.17 on Tuesday. The company has a fifty day simple moving average of $4.98 and a 200 day simple moving average of $7.72. Avenue Therapeutics has a 12-month low of $2.85 and a 12-month high of $12.34. The company has a market cap of $103.34 million, a P/E ratio of -10.82 and a beta of 0.71.

Avenue Therapeutics (NASDAQ:ATXI) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.04. As a group, sell-side analysts anticipate that Avenue Therapeutics will post -0.3 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in ATXI. UBS Group AG increased its holdings in shares of Avenue Therapeutics by 216.4% in the second quarter. UBS Group AG now owns 6,328 shares of the company’s stock valued at $68,000 after purchasing an additional 4,328 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Avenue Therapeutics during the 2nd quarter worth about $162,000. American International Group Inc. purchased a new stake in Avenue Therapeutics during the 2nd quarter worth about $44,000. Jane Street Group LLC purchased a new stake in Avenue Therapeutics during the 2nd quarter worth about $151,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Avenue Therapeutics during the second quarter worth about $155,000. Hedge funds and other institutional investors own 16.39% of the company’s stock.

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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