Aptinyx Inc (APTX) Gets a Buy Rating from Cantor Fitzgerald

In a report released today, Charles Duncan from Cantor Fitzgerald reiterated a Buy rating on Aptinyx Inc (APTX), with a price target of $40. The company’s shares opened today at $22.02.

Duncan noted:

“We reiterate our Overweight rating and 12-month PT of $40 on APTX shares. Aptinyx spun out from Naurex, which was acquired by Allergan for a hefty $560M up front for the NMDAr modulator rapastinel, currently in multiple P3 trials in major depressive disorder. Employing a similar approach to Naurex for modulating glutamate activity, the primary excitatory neurotransmitter in human brains, risk-mitigates Aptinyx and its assets, in our view. With an initial focus on large indications within chronic pain, there are multiple other nervous system disorder oppys for the company’s candidates with better safety/tolerability profile (already demonstrated with rapastinel in hundreds of patients) relative to historical NMDAr-based treatments like ketamine.”

According to TipRanks.com, Duncan is a 1-star analyst with an average return of -0.8% and a 42.1% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.

Currently, the analyst consensus on Aptinyx Inc is a Moderate Buy with an average price target of $40.

See today’s analyst top recommended stocks >>

Based on Aptinyx Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $14.18 million. In comparison, last year the company had a GAAP net loss of $8.15 million.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of APTX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Aptinyx Inc. is a clinical stage biopharmaceutical company. It is discovering and developing transformative therapies for disorders of the brain and nervous system. The company was founded by Norbert G. Riedel and Joseph R. Moskal and is headquartered in Evanston, IL.