As previously reported, SVB Securities downgraded Aptinyx to Market Perform from Outperform with a price target of 50c, down from $2, after the company announced negative data for NYX-458 for a Phase 2 study in cognitive impairment in Parkinson’s disease and dementia with Lewy bodies, as well as termination of its ongoing study of NYX-783 in PTSD. While the firm still thinks the company’s NMDA modulation platform has value, it has no other products in clinical development and will undertake cost-cutting measures and explore strategic alternatives.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on APTX:
- Aptinyx downgraded to Market Perform from Outperform at SVB Securities
- APTX Nosedives after Parkinson’s and Dementia Phase 2 Study Disappoints
- Aptinyx to resume trading at 4:35pm E.T.
- Aptinyx says Phase 2 Study of NYX-458 did not demonstrate sufficient efficacy
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue