Aptose Biosciences price target lowered to $12 from $37 at Piper Sandler

Piper Sandler analyst Edward Tenthoff lowered the firm’s price target on Aptose Biosciences to $12 from $37 and keeps an Overweight rating on the shares. Aptose’s initial tuspetinib + venetoclax combination data from the Phase II APTIVATE study showed an “impressive” 50% CRc rate in 10 evaluable r/rAML patients, says the analyst, who notes that Aptose will present additional APTIVATE data at the European School of Hematology meeting in October and at the ASH meeting in December. However, the firm’s lower price target reflects “current market conditions,” the analyst tells investors.