Wedbush cuts PT on Aptinyx on lower net cash

Aptinyx

24/03/2022 14:23

** Wedbush cuts PT on drug developer Aptinyx Inc's  APTX.O 
shares to $5 from $6, holds 'outperform' rating 
    ** APTX, late on Wednesday, reported 2021 end cash
equivalent of $106.1 mln, down ~25% from cash at 2020-end
 urn:newsml:reuters.com:*:nBwbkKNmJa 
    ** Wedbush says Q4 results were in line with brokerage's
expectations, adds that mid-stage data for nerve damage
treatment drug NYX-2925, expected in April, is APTX's most
notable catalyst in near term 
    ** Brokerage says its APTX valuation is based only on co's
post traumatic stress disorder drug NYX-783, making NYX-2925
data readouts an upside to its estimates
    ** 6 of 9 brokerages rate the stock "buy", remaining 3 rate
it "strong buy"; their median PT is $10, pointing to more than
3x potential upside as of Wednesday's close 
    ** APTX shares fell ~23% in 2021 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))