Zacks Investment Research Upgrades Aptose Biosciences Inc. (APTO) to Buy
Aptose Biosciences Inc. (NASDAQ:APTO) (TSE:APS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage currently has a $1.00 price objective on the stock. Zacks Investment Research’s price objective suggests a potential upside of 11.47% from the company’s current price.
According to Zacks, “Aptose Biosciences Inc. is a clinical-stage biotechnology company. The company is advancing therapeutics to treat life-threatening cancers, such as acute myeloid leukemia, high-risk myelodysplastic syndromes and other hematologic malignancies. Its lead program APTO-253 has completed a Phase 1 study in patients with solid tumors. Aptose Biosciences Inc., formerly known as Lorus Therapeutics Inc., is headquartered in Toronto, Canada. “
APTO has been the subject of a number of other research reports. RBC Capital Markets cut their price objective on shares of Aptose Biosciences from $18.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, November 16th. Roth Capital reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Aptose Biosciences in a research note on Friday, October 14th. Canaccord Genuity reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Aptose Biosciences in a research note on Saturday, October 15th. Finally, Royal Bank Of Canada cut their price objective on shares of Aptose Biosciences from $18.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, November 16th. Six investment analysts have rated the stock with a buy rating, Aptose Biosciences presently has a consensus rating of “Buy” and an average price target of $9.50.
Aptose Biosciences (NASDAQ:APTO) opened at 0.8971 on Thursday. The company’s 50-day moving average is $1.61 and its 200-day moving average is $2.23. Aptose Biosciences has a 52 week low of $0.83 and a 52 week high of $4.33. The company’s market cap is $11.57 million.
A hedge fund recently bought a new stake in Aptose Biosciences stock. Bank of Montreal Can purchased a new position in shares of Aptose Biosciences Inc. (NASDAQ:APTO) (TSE:APS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 52,624 shares of the company’s stock, valued at approximately $128,000. Bank of Montreal Can owned approximately 0.43% of Aptose Biosciences at the end of the most recent quarter. 19.19% of the stock is owned by hedge funds and other institutional investors.
About Aptose Biosciences
Aptose Biosciences Inc (Aptose) is a clinical-stage biotechnology company. The Company is engaged in the development of anticancer drugs that target specific epigenetic processes and signal transduction abnormalities that underlie a particular life-threatening malignancy. Its product pipeline includes cancer drug candidates that exert activity as stand-alone agents and that enhance the activities of other anticancer agents without causing overlapping toxicities.
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