HC Wainwright set a $9.00 target price on Aptose Biosciences (NASDAQ:APTO) (TSE:APS) in a research report sent to investors on Wednesday. The brokerage currently has a buy rating on the biotechnology company’s stock.

“Valuation and impediments to achieving price target. We reiterate our Buy and $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.”,” HC Wainwright’s analyst commented.

Separately, Zacks Investment Research upgraded shares of Aptose Biosciences from a sell rating to a hold rating in a research report on Monday, August 13th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $6.38.

Shares of Aptose Biosciences stock traded down $0.10 during trading on Wednesday, hitting $2.30. 158,300 shares of the company’s stock were exchanged, compared to its average volume of 185,381. Aptose Biosciences has a 52-week low of $1.60 and a 52-week high of $4.55. The stock has a market cap of $89.90 million, a PE ratio of -4.42 and a beta of 1.94.

Aptose Biosciences (NASDAQ:APTO) (TSE:APS) last issued its earnings results on Tuesday, November 6th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.03. On average, analysts predict that Aptose Biosciences will post -0.89 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Aptose Biosciences stock. Ladenburg Thalmann Financial Services Inc. purchased a new stake in shares of Aptose Biosciences Inc. (NASDAQ:APTO) (TSE:APS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 60,000 shares of the biotechnology company’s stock, valued at approximately $190,000. Ladenburg Thalmann Financial Services Inc. owned 0.19% of Aptose Biosciences as of its most recent filing with the Securities & Exchange Commission. 2.41% of the stock is owned by hedge funds and other institutional investors.

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.

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