In a report released yesterday, Jotin Marango from Roth Capital reiterated a Buy rating on Aptose Biosciences (NASDAQ: APTO), with a price target of $7. The company’s shares closed yesterday at $2.79.
Marango observed:
“We reiterate Buy and $7 PT. APTO-253: Finally no holdbacks. The clinical hold was lifted at the end of June, and the reformulated agent is now poised to return to a Phase 1b study in R/R AML and high-risk MDS (up to 15 centers expected to participate). Importantly, the study will pick up at the original dose level but the new formulation is expected to drive 3x higher therapeutic coverage, which we view as positive given the agent’s low myelotoxicity. Management expects to have moved through several dose escalation cohorts by year end. APTO-253: MYC means optionality. Although the agent is now returning to AML/MDS patients, we believe that Aptose should be able to mine meaningful additional value in other MYC-driven or MYC-associated tumors (which, in our view, abound).”
According to TipRanks.com, Marango is a 4-star analyst with an average return of 16.0% and a 40.0% success rate. Marango covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Stemline Therapeutics Inc, and Actinium Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Aptose Biosciences with a $7.75 average price target, which is a 177.8% upside from current levels. In a report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $8.50 price target.
.
See today’s analyst top recommended stocks >>
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 437.3K.
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.
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.
