Brokerages Anticipate Avenue Therapeutics, Inc. (NASDAQ:ATXI) to Post -$0.07 EPS

Equities research analysts expect that Avenue Therapeutics, Inc. (NASDAQ:ATXI) will announce ($0.07) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Avenue Therapeutics’ earnings, with estimates ranging from ($0.08) to ($0.06). Avenue Therapeutics reported earnings per share of ($0.11) during the same quarter last year, which suggests a positive year over year growth rate of 36.4%. The company is scheduled to report its next earnings results on Friday, August 13th.

According to Zacks, analysts expect that Avenue Therapeutics will report full year earnings of ($0.27) per share for the current year, with EPS estimates ranging from ($0.30) to ($0.23). For the next year, analysts expect that the firm will post earnings of ($0.76) per share, with EPS estimates ranging from ($1.27) to ($0.24). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Avenue Therapeutics.

Avenue Therapeutics (NASDAQ:ATXI) last released its quarterly earnings results on Sunday, May 16th. The company reported ($0.06) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06).

Separately, Zacks Investment Research cut shares of Avenue Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, June 2nd.

Shares of Avenue Therapeutics stock traded down $0.11 on Thursday, hitting $2.08. The company had a trading volume of 2,275 shares, compared to its average volume of 291,553. Avenue Therapeutics has a twelve month low of $1.83 and a twelve month high of $12.34. The company has a 50-day simple moving average of $3.36.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Axiom Investment Management LLC acquired a new position in Avenue Therapeutics during the first quarter worth $60,000. Trexquant Investment LP acquired a new position in Avenue Therapeutics during the first quarter worth $84,000. JPMorgan Chase & Co. boosted its holdings in Avenue Therapeutics by 260.2% during 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. Jane Street Group LLC acquired a new position in Avenue Therapeutics during the fourth quarter worth $79,000. Finally, Virtu Financial LLC acquired a new position in Avenue Therapeutics during the fourth quarter worth $104,000. Institutional investors and hedge funds own 11.00% 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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