Cantor Fitzgerald analyst Charles Duncan reiterated a Buy rating on Aptinyx Inc (APTX – Research Report) today and set a price target of $12. The company’s shares opened today at $3.59, close to its 52-week low of $3.45.
“. We reiterate our Overweight rating and $12 PT per share of APTX. Aptinyx reported net loss of $0.50 per share for 1Q19. The company ended 1Q19 with cash and equivalents of $136.6M. Our model projects this cash to be sufficient to fund operations into 2021, through readout of four P2 studies including: 1) NYX-2925 in painful diabetic peripheral neuropathy; 2) ‘2925 for fibromyalgia; 3) Parkinson’s cognitive impairment.”
According to TipRanks.com, Duncan is a 4-star analyst with an average return of 6.7% and a 47.0% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and KalVista Pharmaceuticals Inc.
Currently, the analyst consensus on Aptinyx Inc is a Moderate Buy with an average price target of $13.50.
Based on Aptinyx Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $14.09 million. In comparison, last year the company had a GAAP net loss of $11.67 million.
Based on the recent corporate insider activity of 36 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 APTX in relation to earlier this year.
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Aptinyx Inc. is a clinical stage biopharmaceutical company. It engages in the discovery, development, and and commercialization of transformative therapies for disorders of the brain and nervous system. Its product includes NYX-2925, NYX-783, NYX-458, and the AGN-241751 program.