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UPDATE: H.C. Wainwright Starts Aptorum Group Ltd. (APM) at Buy

October 7, 2022 6:13 AM EDT
Get Alerts APM Hot Sheet
Price: $0.54 --0%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 5 | New: 0
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(Updated - October 7, 2022 6:26 AM EDT)

H.C. Wainwright analyst Vernon Bernardino initiates coverage on Aptorum Group Ltd. (NASDAQ: APM) with a Buy rating and a price target of $8.00.

The analyst commented, "We are bullish on Aptorum Group Limited, a clinical-stage biopharmaceutical focused on treating diseases with unmet medical needs, particularly in oncology and infectious diseases, based on three points: (1) the promising preclinical efficacy of lead product candidate, ALS-4, both on a standalone basis and in combination with standard of care (SOC), vancomycin, against Staphylococcus aureus (SA) infection, including methicillin-resistant SA (MRSA); (2) the blockbuster potential of SACT-1’s in vivo neuroblastoma tumor reduction effects in combination with SOC chemotherapy; and (3) the significant potential of the company’s nascent programs and ongoing collaborations to generate future value, and importantly, near-term revenues. While Aptorum’s market cap of $39M (on 10/4/22) and $1.09/sh price point to a speculative play, we believe revenues from Aptorum’s recent launch of NativusWell in Hong Kong de-risks concerns regarding near-term financing needs. More importantly, we think the shares are an attractive value proposition ahead of initiation of a Phase 2a trial of ALS-4 in patients with SA infections, the start of a Phase 1b/2a study with SACT-1 in neuroblastoma, and expansion of NativusWell commercialization into the UK, EU, and U.S. markets, which we look for as positive catalysts by year-end 2022 or early 1Q23."

For an analyst ratings summary and ratings history on Aptorum Group Ltd. click here. For more ratings news on Aptorum Group Ltd. click here.

Shares of Aptorum Group Ltd. closed at $0.89 yesterday.



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