In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Aptose Biosciences (NASDAQ: APTO), with a price target of $8.50. The company’s shares closed yesterday at $2.75.
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 is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -13.1% and a 31.3% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Checkpoint Therapeutics Inc.
Aptose Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $7.75.
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The company has a one-year high of $4.55 and a one-year low of $1.30. Currently, Aptose Biosciences has an average volume of 438.1K.
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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.
