H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Aptose Biosciences (APTO) today and set a price target of $8.50. The company’s shares opened today at $2.20.
Pantginis noted:
“Valuation and impediments to achieving price target. We reiterate our Buy and $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 ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -4.0% and a 34.3% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
Aptose Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $7.25.
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The company has a one-year high of $4.55 and a one-year low of $1.57. Currently, Aptose Biosciences has an average volume of 306.2K.
Based on the recent corporate insider activity of 6 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 APTO in relation to earlier this year.
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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.
