- HC Wainwright initiated coverage on Aptorum Group Limited (NASDAQ:APM) with a Buy rating and a price target of $8.
- The analyst is bullish on Aptorum based on three points:
- Promising preclinical efficacy of lead product candidate ALS-4, both on a standalone basis and in combination with standard of care vancomycin, against Staphylococcus aureus (SA) infection.
- Blockbuster potential of SACT-1’s in vivo neuroblastoma tumor reduction effects in combination with SOC chemotherapy
- The significant potential of the company’s nascent programs and ongoing collaborations to generate future value and importantly, near-term revenues.
- Related: Aptorum Highlights Updates On Clinical Validation of RPIDD Infectious Disease Molecular Diagnostics.
- With Aptorum’s market cap of $39 million, the analyst believes revenues from Aptorum’s recent launch of NativusWell in Hong Kong de-risk concerns related to near-term financing needs.
- HC Wainwright thinks the shares are an attractive value proposition ahead of initiation of a Phase 2a trial of ALS-4 in patients with SA infections, Phase 1b/2a study with SACT-1 in neuroblastoma, and expansion of NativusWell commercialization viewed as positive catalysts by year-end 2022 or early 1Q23.
- Price Action: APM shares are up 4.40% at $0.9292 on the last check Friday.
Traders More Optimistic Ahead Of Big Tech Earnings
The CNN Money Fear and Greed index showed further improvement in the investor sentiment after the US stocks recorded gains on Monday.
All the three major indices recorded gains on Monday, extending gains recorded last week.
