Zacks Investment Research upgraded shares of Aptevo Therapeutics (NASDAQ:APVO) from a hold rating to a buy rating in a report published on Tuesday morning. The brokerage currently has $5.75 target price on the biotechnology company’s stock.
According to Zacks, “Aptevo Therapeutics Inc. is a biotechnology company which focused on developing oncology and hematology therapeutics. The company’s platform consists of ADAPTIR(TM). Its product pipeline includes WinRho (R) SDF, HepaGam B (R), VARIZIG(R) and IXINITY (R) which are in pre-clinical stage. Aptevo Therapeutics Inc. is based in Seattle, Washington. “
Several other research firms also recently commented on APVO. ValuEngine downgraded shares of Aptevo Therapeutics from a buy rating to a hold rating in a report on Tuesday, July 24th. Piper Jaffray Companies reiterated an overweight rating and issued a $11.00 price objective on shares of Aptevo Therapeutics in a report on Friday, August 10th.
NASDAQ APVO opened at $5.40 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.39 and a current ratio of 4.47. Aptevo Therapeutics has a 1 year low of $1.15 and a 1 year high of $6.35. The firm has a market cap of $109.49 million, a price-to-earnings ratio of -3.53 and a beta of 0.21.
Aptevo Therapeutics (NASDAQ:APVO) last posted its quarterly earnings results on Thursday, August 9th. The biotechnology company reported ($0.58) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.07. The firm had revenue of $6.83 million for the quarter, compared to the consensus estimate of $4.17 million. equities research analysts anticipate that Aptevo Therapeutics will post -2.63 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its holdings in shares of Aptevo Therapeutics by 53.3% in the second quarter. Renaissance Technologies LLC now owns 1,149,400 shares of the biotechnology company’s stock valued at $5,736,000 after purchasing an additional 399,400 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Aptevo Therapeutics by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,351,656 shares of the biotechnology company’s stock valued at $6,745,000 after purchasing an additional 131,804 shares during the last quarter. EAM Investors LLC acquired a new position in shares of Aptevo Therapeutics in the second quarter valued at $552,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Aptevo Therapeutics in the second quarter valued at $148,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Aptevo Therapeutics by 79.0% in the second quarter. Acadian Asset Management LLC now owns 367,509 shares of the biotechnology company’s stock valued at $1,833,000 after purchasing an additional 162,218 shares during the last quarter. Hedge funds and other institutional investors own 34.49% of the company’s stock.
About Aptevo Therapeutics
Aptevo Therapeutics Inc, a biotechnology company, engages in the discovery, development, commercialization, and sale of novel oncology and hematology therapeutics in the United States. Its marketed products include IXINITY, which is indicated in adults and children 12 years of age and older with hemophilia B for control and prevention of bleeding episodes, and management of bleeding during operations; and WinRho SDF for the treatment of autoimmune platelet disorders, as well as for the treatment of hemolytic disease of the newborn.
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