U.S. Markets closed
  • S&P 500

    3,699.12
    +32.40 (+0.88%)
     
  • Dow 30

    30,218.26
    +248.74 (+0.83%)
     
  • Nasdaq

    12,464.23
    +87.05 (+0.70%)
     
  • Russell 2000

    1,892.45
    +43.75 (+2.37%)
     
  • Crude Oil

    46.09
    +0.45 (+0.99%)
     
  • Gold

    1,837.70
    +0.90 (+0.05%)
     
  • Silver

    24.32
    +0.18 (+0.76%)
     
  • EUR/USD

    1.2127
    -0.0022 (-0.1819%)
     
  • 10-Yr Bond

    0.9690
    +0.0490 (+5.33%)
     
  • Vix

    20.79
    -0.49 (-2.30%)
     
  • GBP/USD

    1.3438
    -0.0015 (-0.1088%)
     
  • USD/JPY

    104.1400
    +0.2800 (+0.2696%)
     
  • BTC-USD

    19,087.49
    +23.47 (+0.12%)
     
  • CMC Crypto 200

    365.19
    -14.05 (-3.71%)
     
  • FTSE 100

    6,550.23
    +59.96 (+0.92%)
     
  • Nikkei 225

    26,751.24
    -58.13 (-0.22%)
     

Avenue Therapeutics (ATXI) Misses Earnings Estimates in Q2

Zacks Equity Research
·3 min read

Avenue Therapeutics, Inc. ATXI reported a loss of 11 cents per share in the second quarter of 2020, wider than the Zacks Consensus Estimate of a loss of 10 cents. The loss was, however, narrower than the year-ago quarter’s loss of 43 cents.

Avenue Therapeutics’ stock has risen 10.3% so far this year against the industry’s decline of 6.3%.

It is a clinical-stage biopharmaceutical company developing products, principally for use in the acute/intensive care hospital setting. The company’s sole pipeline candidate, intravenous tramadol, is under review for the treatment of moderate to moderately severe postoperative pain.

The company has completed two late-stage studies, evaluating tramadol in patients with moderate-to-severe pain following bunionectomy or abdominoplasty, in the last two years and submitted a new drug application in December 2019. The NDA was accepted by the FDA in February and a decision is expected on Oct 10, 2020.

Research and development expenses for the second quarter of 2020 were $1.2 million compared with$6.4 million in the year-ago quarter. This decrease was mainly attributable to the completion of the abdominoplasty and safety studies in 2019.

General and administrative expenses for the second quarter of 2020 were flat year over year at approximately $0.7 million.

As of Jun 30, 2020, Avenue’s cash and cash equivalents were $5.3 million, compared to $6.6 million at March 31, 2020,  a decrease of $1.3 million for the quarter.    

 

Avenue Therapeutics, Inc. Price, Consensus and EPS Surprise

 

Avenue Therapeutics, Inc. Price, Consensus and EPS Surprise
Avenue Therapeutics, Inc. Price, Consensus and EPS Surprise

Avenue Therapeutics, Inc. price-consensus-eps-surprise-chart | Avenue Therapeutics, Inc. Quote

Zacks Rank & Stocks to Consider

Avenue Therapeutics currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the sector include PaciraBioSpecificsInc. PCRX, BioLineRx Ltd. BLRX and Eisai Co. ESALY. While Pacira sports a Zacks Rank #1 (Strong Buy), BioLineRx and Eisai carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Pacira’searnings per share estimates have increased to $2.06 from $1.78 for 2020 and from $3.12 to $3.62 for 2021 in the past 60 days.

BioLineRx’s loss per share estimates have narrowed from $2.24 to $1.95 for 2020 and from $2.88 to $1.44 for 2021 in the past 60 days.

Eisai’s earnings per share estimates have increased from $2.28 to $2.36 for 2020 and from $2.262 to $2.30 for 2021 in the past 60 days.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
BioLineRx Ltd. (BLRX) : Free Stock Analysis Report
 
Pacira BioSciences, Inc. (PCRX) : Free Stock Analysis Report
 
Eisai Co. (ESALY) : Free Stock Analysis Report
 
Avenue Therapeutics, Inc. (ATXI) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.