Analyst Jason McCarthy of Maxim Group maintained a Buy rating on Aprea Therapeutics (APRE – Research Report), with a price target of $16.00.
Jason McCarthy has given a Buy rating for Aprea Therapeutics due to a combination of factors related to the company’s recent developments and future outlook. Aprea Therapeutics, after reporting a net loss in 3Q23, still ended the period with a substantial cash reserve of $25.4M, providing a financial runway into 4Q24. Furthermore, the company made a strong impression at a recent oncology meeting, showcasing promising clinical data for the ATR inhibitor candidate, ATRN-1019. The daily, continuous dosing strategy for ATRN-119 has so far shown no hematological or liver toxicity in initial patients, and the dose escalation phase is advancing as planned.
Moreover, Aprea’s WEE1 inhibitor candidate, ATRN-1051, showed high selectivity for WEE1 and low off-targeting of PLKs in preclinical data, which is another positive point in favor of the company. As the trial for ATRN-119 progresses, additional updates are anticipated, including the completion of the dose escalation phase and advancement into the P2a portion of the trial. For ATRN-1051, the IND is expected to be submitted this quarter, with clinical development set to start in 1Q24. These factors contribute to McCarthy’s positive outlook on Aprea Therapeutics, leading to his Buy rating for the company’s stock.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $20.00 price target.
APRE’s price has also changed slightly for the past six months – from $3.850 to $3.840, which is a -0.26% drop .
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Aprea Therapeutics (APRE) Company Description:
Aprea Therapeutics, Inc. is a clinical-stage biopharmaceutical company. It focuses on developing and commercializing novel cancer therapeutics that reactivate mutant p53 tumor suppressor protein. The company was founded in 2002 and is headquartered in Boston, MA.
Read More on APRE:
- Aprea Therapeutics reports Q3 EPS (86c), consensus ($1.16)
- Aprea Therapeutics Reports Third Quarter 2023 Financial Results and Provides a Business Update
- Aprea Therapeutics to host investor meeting
- Aprea Therapeutics presents initial clinical data on ATRi, ATRN-119
- Aprea Unveils Initial Clinical Data on ATRi, ATRN-119, and Pre-Clinical Data on WEE1i, ATRN-1051, at AACR-NCI-EORTC International Conference Supporting Highly Differentiated Synthetic Lethality Portfolio
