Athenex (ATNX) PT Raised to $31 at RBC Capital; Bear Confirms Error

RBC Capital analyst Kennen MacKay raised the price target on Athenex (NASDAQ: ATNX) to $31.00 (from $29.00) while maintaining an Outperform rating.

MacKay commented, "We corresponded with authors of a seminal meta-analysis publication to confirm that a critical figure was erroneously inversely described, and that opposite conclusions should be drawn. This data, previously foundational to the bear argument on ATNX, actually support our bullish stance that ATNX's Oraxol (oral paclitaxel) PK strategy will achieve superior efficacy in the approaching ph3 data. +$2/sh to PT."

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