In a report issued on June 29, Jotin Marango from Roth Capital reiterated a Buy rating on Aptose Biosciences (NASDAQ: APTO), with a price target of $7. The company’s shares opened today at $4.09, close to its 52-week high of $4.55.
Marango commented:
“We had guided investors to keep an eye on the MYC inhibitor APTO-235, as a potential sudden driver of value. Following this morning’s lifting of the clinical hold, we now expect the agent to return imminently to a Phase 1b in AML and MDS. We are reiterating our Buy rating and raising out PT from $6 to $7. The agent is a small molecule MYC inhibitor, which in our view makes it differentiated and attractive in oncology. The most important and underappreciated fact about APTO-253 is that it has already been dosed in both solid and liquid tumors before, with good tolerability for an anti-tumor agent, in our view.”
According to TipRanks.com, Marango is a 4-star analyst with an average return of 31.8% and a 53.3% success rate. Marango covers the Healthcare sector, focusing on stocks such as Stemline Therapeutics Inc, Aptevo Therapeutics Inc, and GlycoMimetics.
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 an 89.5% upside from current levels. In a report issued on June 15, H.C. Wainwright also reiterated a Buy rating on the stock with a $6 price target.
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Based on Aptose Biosciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $6.82 million. In comparison, last year the company had a GAAP net loss of $2.41 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.
