HC Wainwright Reiterates “Buy” Rating for ASLAN PHARMACEU/ADR (NASDAQ:ASLN)
ASLAN PHARMACEU/ADR (NASDAQ:ASLN)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a note issued to investors on Tuesday, The Fly reports. They presently have a $5.00 target price on the stock, up from their previous target price of $2.00. HC Wainwright’s price objective would suggest a potential upside of 113.68% from the company’s previous close.
Several other equities analysts have also commented on the company. Zacks Investment Research upgraded ASLAN PHARMACEU/ADR from a “hold” rating to a “strong-buy” rating and set a $2.00 price target on the stock in a research note on Monday, November 4th. BTIG Research lowered ASLAN PHARMACEU/ADR from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Piper Jaffray Companies raised ASLAN PHARMACEU/ADR from a “neutral” rating to an “overweight” rating and set a $8.00 target price on the stock in a report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. ASLAN PHARMACEU/ADR currently has a consensus rating of “Buy” and a consensus price target of $5.00.
Shares of NASDAQ ASLN opened at $2.34 on Tuesday. The stock has a 50 day moving average of $1.79 and a 200-day moving average of $2.44. The company has a current ratio of 1.88, a quick ratio of 3.80 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $75.64 million, a P/E ratio of -1.67 and a beta of 3.31. ASLAN PHARMACEU/ADR has a 12 month low of $0.35 and a 12 month high of $8.18.
An institutional investor recently raised its position in ASLAN PHARMACEU/ADR stock. Platinum Investment Management Ltd. increased its position in shares of ASLAN PHARMACEU/ADR (NASDAQ:ASLN) by 7.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 415,450 shares of the company’s stock after acquiring an additional 27,055 shares during the period. Platinum Investment Management Ltd. owned approximately 1.30% of ASLAN PHARMACEU/ADR worth $1,275,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 7.12% of the company’s stock.
About ASLAN PHARMACEU/ADR
ASLAN Pharmaceuticals Limited, a clinical-stage oncology-focused biopharmaceutical company, engages in the development of drugs for prevalent cancers. It targets diseases that are prevalent in Asia, and orphan indications in the United States and Europe. The company's lead program, varlitinib, is a reversible small molecule pan-human epidermal growth factor receptor, or pan-HER, inhibitor that targets the human epidermal growth factor receptors HER1, HER2, and HER4.
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