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JonesTrading Thinks Aptose Biosciences’ Stock is Going to Recover

JonesTrading analyst Soumit Roy maintained a Buy rating on Aptose Biosciences (APTOResearch Report) today and set a price target of $5.00. The company’s shares closed last Tuesday at $0.71, close to its 52-week low of $0.71.

According to TipRanks.com, Roy is a 3-star analyst with an average return of 3.4% and a 30.3% success rate. Roy covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Adaptimmune Therapeutics, and Monopar Therapeutics Inc.

Currently, the analyst consensus on Aptose Biosciences is a Strong Buy with an average price target of $8.58, implying a 1074.5% upside from current levels. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $12.00 price target.

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Based on Aptose Biosciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $11.48 million. In comparison, last year the company had a GAAP net loss of $16.23 million.

Based on the recent corporate insider activity of 21 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. The company was founded on September 5, 1986 and is headquartered in Toronto, Canada.

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