Avenue Therapeutics (NASDAQ:ATXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage presently has a $7.50 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 19.05% from the company’s previous close.
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 restated a “hold” rating and set a $6.00 price target on shares of Avenue Therapeutics in a report on Friday, December 18th.
Avenue Therapeutics (NASDAQ:ATXI) last posted its quarterly earnings data on Tuesday, March 30th. The company reported ($0.06) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.06). As a group, research analysts forecast that Avenue Therapeutics will post -0.3 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in Avenue Therapeutics in the 4th quarter worth approximately $79,000. JPMorgan Chase & Co. raised its stake in shares of Avenue Therapeutics by 260.2% in the fourth quarter. JPMorgan Chase & Co. now owns 17,102 shares of the company’s stock worth $101,000 after purchasing an additional 12,354 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Avenue Therapeutics in the fourth quarter worth $104,000. Morgan Stanley boosted its position in shares of Avenue Therapeutics by 270.9% during the third quarter. Morgan Stanley now owns 22,706 shares of the company’s stock valued at $246,000 after buying an additional 16,584 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Avenue Therapeutics by 2.1% during the fourth quarter. Northern Trust Corp now owns 82,691 shares of the company’s stock valued at $492,000 after buying an additional 1,726 shares during the last quarter. Hedge funds and other institutional investors own 16.39% of the company’s stock.
Avenue Therapeutics Company Profile
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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