According to The Fly, the Healthcare company, Aptose Biosciences (APS), has received a rating update from a Wall Street analyst today. H.C. Wainwright’s analyst Joseph Pantginis reiterates their Buy rating on the shares.
Pantginis wrote:
“Valuation and impediments to achieving price target. We reiterate our Buy and C$8.50 price target. Our target is based on our clinical net present value (NPV) model, which derives its value from both the CG-806 opportunity in AML and APTO-253 opportunity in AML and MDS. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.”
According to TipRanks.com, Pantginis has 0 stars on 0-5 star ranking scale with an average return of -18.8% and a 24.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
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Currently, the analyst consensus on Aptose Biosciences is a Strong Buy with an average price target of C$7, an 115.4% upside from current levels. In a report released yesterday, Roth Capital also maintained a Buy rating on the stock with a C$7 price target.
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Aptose Biosciences’ market cap is currently C$113.8M and has a P/E ratio of 0. The company has a Price to Book ratio of 6.32.
Aptose Biosciences, Inc. is a clinical-stage oncology company, which engages in the discovery, research, and development of anti-cancer therapies. Its product pipeline includes APTO-253, a small molecule that induces expression of the Kruppel-Like Factor 4 genes; and CG’806 a non-covalent small molecule therapeutic agent.
The company’s shares closed on Wednesday at C$3.25.
