Aptevo Therapeutics initiated with a Buy at Alliance Global Partners

Alliance Global Partners analyst James Molloy initiated coverage of Aptevo Therapeutics with a Buy rating and $4.75 price target. Aptevo is targeting acute myeloid leukemia, or AML, with lead candidate APVO436, which represents most of the firm’s sum-of-the-parts valuation. In addition to ascribing $4 per share in value to APVO436 for AML, the firm values ALG.APV-527 for multiple cancers and solid tumors at 25c per share, and values preclinical candidates plus cash at 50c per share.