Aptose Biosciences Gets a Buy Rating from H.C. Wainwright


H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Aptose Biosciences (NASDAQ: APTO) today and set a price target of $6. The company’s shares closed on Friday at $3.27.

Pantginis noted:

“Monday Morning Exercise Feels Good Continuing thesis of early bird gets the worm. This morning, Aptose announced that it is exercising its option early to exclusively license CG-806 from CrystalGenomics, Inc. (KOSDAQ:083790) for the prearranged payment of $2 million . Aptose originally paid Crystal Genomics a $1 million option fee in June 2016 for the drug to include development of the drug in all countries except Korea and China. As the drug matures, CrystalGenomics is entitled to receive the following payments: (1) $16 million for the initiation of Phase 2 and pivotal study; (2) $44 million in regulatory milestones; and (3) undisclosed royalty payments. After significant early due diligence, the company was able to source CG’806.”

According to TipRanks.com, Pantginis is ranked 0 out of 5 stars with an average return of -13.3% and a 34.0% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.

Aptose Biosciences has an analyst consensus of Strong Buy, with a price target consensus of $6.33.

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Based on Aptose Biosciences’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $3.29 million. In comparison, last year the company had a GAAP net loss of $3.29 million.

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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 portfolio includes APTO-253, a small molecule that induces expression of the Kruppel-Like Factor 4 genes; and CG’806.

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