HC Wainwright reiterated their buy rating on shares of Aptose Biosciences (TSE:APS) (NASDAQ:APTO) in a research report report published on Monday. The firm currently has a C$8.50 target price on the biotechnology company’s stock.
“Valuation and impediments to achieving price target. We reiterate our Buy and C$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. Factors which could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.”,” the firm’s analyst commented.
Separately, B. Riley reiterated a buy rating on shares of Aptose Biosciences in a report on Friday, November 16th.
Shares of TSE:APS opened at C$2.78 on Monday. Aptose Biosciences has a one year low of C$2.17 and a one year high of C$5.97.
About Aptose Biosciences
Aptose Biosciences Inc, a clinical-stage biotechnology company, discovers and develops personalized therapies addressing unmet medical needs in oncology in Canada. Its lead clinical program is APTO-253, which is a Phase I clinical trial for the treatment of patients with relapsed or refractory hematologic malignancies.
Further Reading: How does a reverse stock split work?