Ascentage Pharma Group International (NASDAQ:AAPG) Sees Strong Trading Volume - Should You Buy?

Key Points

• Trading volume rose 65% to approximately 11,255 shares, while AAPG fell 7.6% to $15.129, below its 50-day and 200-day moving averages.
• Analysts remain broadly bullish, with an average “Buy” rating and a consensus price target of $43.90; published targets range from $33 to $48.
• Ascentage reported a quarterly loss of $0.65 per share on $22.24 million in revenue, and analysts expect a full-year loss of approximately $2.43 per share.

Shares of Ascentage Pharma Group International - Unsponsored ADR (NASDAQ:AAPG - Get Free Report) saw unusually-high trading volume on Thursday. Approximately 11,255 shares were traded during trading, an increase of 65% from the previous session's volume of 6,819 shares. The stock last traded at $15.1290 and had previously closed at $16.34.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AAPG. JPMorgan Chase & Co. reduced their price target on shares of Ascentage Pharma Group International from $46.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, October 8th. William Blair initiated coverage on shares of Ascentage Pharma Group International in a research report on Friday, October 16th. They issued an "outperform" rating on the stock. Citigroup started coverage on shares of Ascentage Pharma Group International in a report on Wednesday, October 14th. They set a "buy" rating and a $46.00 price objective on the stock. Citizens Jmp assumed coverage on shares of Ascentage Pharma Group International in a research report on Tuesday, October 13th. They set a "market outperform" rating and a $35.00 price objective for the company. Finally, BTIG Research reaffirmed a "buy" rating and set a $48.00 price objective on shares of Ascentage Pharma Group International in a research report on Friday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. Based on data from MarketBeat.com, Ascentage Pharma Group International presently has an average rating of "Buy" and an average price target of $43.90.

Ascentage Pharma Group International Stock Down 7.6%

The stock has a 50-day simple moving average of $16.30 and a 200 day simple moving average of $18.84. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.09.

Ascentage Pharma Group International (NASDAQ:AAPG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The company reported ($0.65) earnings per share for the quarter. The firm had revenue of $22.24 million during the quarter. On average, equities research analysts forecast that Ascentage Pharma Group International - Unsponsored ADR will post -2.43 EPS for the current year.

About Ascentage Pharma Group International

Ascentage Pharma Group International is a commercial-stage biopharmaceutical company focused on developing and commercializing treatments for cancer and other serious diseases.

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