H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Aptose Biosciences (APTO) today and set a price target of $6. The company’s shares closed yesterday at $2.34.
Pantginis observed:
“Valuation and impediments to achieving price target. We reiterate our Buy rating, but are lowering our price target to $6 from $8.50 based on: (1) adjustment to base year (positive effect); and (2) adjustment to fully diluted share count based on the June 2019 equity raise (negative impact). 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 CLL (44% of valuation contribution), and the APTO-253 opportunity in r/r AML and MDS (56% valuation contribution).”
According to TipRanks.com, Pantginis has currently no stars on a ranking scale of 0-5 stars, with an average return of -12.8% and a 27.8% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
Currently, the analyst consensus on Aptose Biosciences is a Strong Buy with an average price target of $6.33.
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The company has a one-year high of $3.20 and a one-year low of $1.57. Currently, Aptose Biosciences has an average volume of 421.7K.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of APTO in relation to earlier this year.
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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.
