Truist Securities Reiterates Aptinyx (APTX) at Buy with $12 PT, Sees Risk/Reward Skewed to Upside at Current Valuation

Truist Securities analyst Joon Lee reiterated a Buy rating and $12.00 price target on Aptinyx (NASDAQ: APTX), following the company's latest quarterly report.

The analyst quotes: "APTX reported 4Q21 results and reiterated timelines for upcoming data readouts. Topline data for Ph2b study of NYX-2925 in PDPN is now in April vs April/May, previously, and FM narrowed to July/Aug vs mid-2022, previously. 2nd PTSD Ph2b study to commence in 2Q22. Upcoming catalysts are difficult to handicap due to limited supportive data for FM, post-hoc data as the basis for PDPN, and no material prior human data for NYX-458. However, with current valuation with cash on hand of $106M we think risk/benefit as skewed to the upside. Additional chronic pain indications could also add value.

We fine tune our model to incorporate results. For 2022 we now forecast EPS of -$1.13 (previously -$1.03) as we adjust our full-year R&D and SG&A expense estimates and share count assumptions. "

For an analyst ratings summary and ratings history on Aptinyx click here. For more ratings news on Aptinyx click here.

Shares of Aptinyx closed at $2.95 yesterday.

By Vlad Schepkov

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