Roth Capital Thinks Aptevo Therapeutics Inc’s Stock is Going to Recover


Roth Capital analyst Jotin Marango maintained a Buy rating on Aptevo Therapeutics Inc (APVO) today and set a price target of $12. The company’s shares closed yesterday at $3.10, close to its 52-week low of $2.71.

Marango noted:

“We like the exclusive focus on ADAPTIR bispecifics going forward. What made Aptevo appealing to us from our first day of coverage was the prospect of novel and differentiated bispecifics from the ADAPTIR platform. In our view, the discontinuation of Otlertuzumab (PTCL) and APVO414 (prostate cancer) is a step in the right direction, which finally completes the slow metamorphosis from a spinout of a differentiated bispecifics’ biotech. We look forward to AML data in 2019. We are especially intrigued by the first spawn of the platform, the anti-CD123/CD3 bispecific APVO436, currently in Phase 1 in AML. At ASH this December we will have a peek at Xencor’s anti-CD123 bispecific notching a 23% response rate but also a 77% CRS rate, and MacroGenics’ anti-CD123 bispecific showing a 73% CRS rate (Gr2+Gr3).”

According to TipRanks.com, Marango ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -11.4% and a 23.4% success rate. Marango covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Stemline Therapeutics Inc, and Cyclacel Pharmaceuticals.

Aptevo Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $13, implying a 319.4% upside from current levels. In a report issued on November 5, Ladenburg also initiated coverage with a Buy rating on the stock with a $14 price target.

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The company has a one-year high of $6.35 and a one-year low of $2.71. Currently, Aptevo Therapeutics Inc has an average volume of 85.38K.

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Aptevo Therapeutics, Inc. is a biotechnology company, which engages in the discovery, development, commercialization and sale of novel oncology and hematology therapeutics. Its pipeline includes Otlertuzumab, APVO414, APVO436, ROR1 Candidate, and ALG.APV-527. The company was founded on February 22, 2016 and is headquartered in Seattle, WA.

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