Zacks: Brokerages Set $6.00 Target Price for Aptevo Therapeutics Inc. (APVO)

Shares of Aptevo Therapeutics Inc. (NASDAQ:APVO) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Analysts have set a one year consensus price objective of $6.00 for the company and are anticipating that the company will post ($0.32) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Aptevo Therapeutics an industry rank of 111 out of 265 based on the ratings given to its competitors.

Several analysts have weighed in on the stock. ValuEngine cut shares of Aptevo Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $6.00 price objective on shares of Aptevo Therapeutics in a research note on Thursday, October 5th.

Shares of Aptevo Therapeutics (NASDAQ APVO) traded down $0.02 during trading on Wednesday, reaching $2.85. 120,893 shares of the company’s stock traded hands, compared to its average volume of 339,860. The company has a current ratio of 7.76, a quick ratio of 7.67 and a debt-to-equity ratio of 0.19. Aptevo Therapeutics has a 1 year low of $1.15 and a 1 year high of $3.85.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Spark Investment Management LLC grew its stake in shares of Aptevo Therapeutics by 167.4% during the second quarter. Spark Investment Management LLC now owns 61,500 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 38,500 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Aptevo Therapeutics by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,056,729 shares of the biotechnology company’s stock valued at $2,187,000 after purchasing an additional 78,109 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Aptevo Therapeutics by 11,751.3% during the second quarter. Legal & General Group Plc now owns 393,701 shares of the biotechnology company’s stock valued at $815,000 after purchasing an additional 390,379 shares during the last quarter. Finally, Precept Management LLC bought a new stake in shares of Aptevo Therapeutics during the second quarter valued at approximately $1,210,000. 36.02% of the stock is currently owned by institutional investors and hedge funds.

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Aptevo Therapeutics Company Profile

Aptevo Therapeutics Inc is a biotechnology company. The Company is focused on oncology and hematology therapeutics. The Company is engaged in the discovery, development, commercialization and sale of oncology and hematology therapeutics. The Company’s technology is the ADAPTIR (modular protein technology) platform.

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