H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Aptose Biosciences (APTO) today and set a price target of $8.50. The company’s shares closed yesterday at $2.23.
Pantginis wrote:
“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 Biosciences, Inc. May 8, 2019 H.C. WAINWRIGHT & CO. EQUITY RESEARCH 2the APTO-253 opportunity in AML and MDS. This model allows us to flex multiple assumptions affecting a drug’s potential commercial profile.”
According to TipRanks.com, Pantginis has 0 stars on 0-5 star ranking scale with an average return of -2.4% and a 36.6% 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 Strong Buy, with a price target consensus of $6.83, representing a 206.3% upside. In a report released today, Oppenheimer also assigned a Buy rating to the stock with a $6 price target.
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Based on Aptose Biosciences’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $5.52 million. In comparison, last year the company had a GAAP net loss of $6.82 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 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.
