Oppenheimer Reaffirms Their Buy Rating on Aptose Biosciences (APTO)

Oppenheimer analyst Matthew Biegler maintained a Buy rating on Aptose Biosciences (APTO) today and set a price target of $6. The company’s shares closed yesterday at $1.74, close to its 52-week low of $1.57.

Biegler commented:

“Tuesday, Aptose reported 4Q earnings and provided a business update. The first AML patient has been dosed in the ongoing Phase 1b trial of APTO-253, and we are encouraged by early evidence supporting the drug’s MoA, especially considering the low starting dose. We expect the company’s clinical stage pipeline to expand as CG-806 is slated to enter a first-in-human trial; an IND for the dual FLT3/BTK inhibitor was filed in February and the company plans to hit the ground running with multiple sites online by the end of April. With early data from both trials potentially on the docket for later this year, we think Aptose is a microcap story that deserves to be on investors’ radar. $6 PT.”

According to TipRanks.com, Biegler is ranked #4051 out of 5236 analysts.

Aptose Biosciences has an analyst consensus of Strong Buy, with a price target consensus of $6.83, which is a 292.6% upside from current levels. In a report issued on March 1, RBC Capital also initiated coverage with a Buy rating on the stock with a $6 price target.

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The company has a one-year high of $4.55 and a one-year low of $1.57. Currently, Aptose Biosciences has an average volume of 256.7K.

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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.