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 $2.16.
“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.”
According to TipRanks.com, Pantginis ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -17.8% and a 26.0% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Strata Skin Sciences Inc.
Currently, the analyst consensus on Aptose Biosciences is a Moderate Buy with an average price target of $6.75, implying a 212.5% upside from current levels. In a report issued on November 16, B.Riley FBR also initiated coverage with a Buy rating on the stock with a $5 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 $2.64 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.