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

Key Points

• Trading volume rose 30% to approximately 8,929 shares, while Ascentage Pharma shares traded at $14.80, below the prior close of $14.98.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $43.90; however, JPMorgan recently reduced its target from $46 to $33.
• The company 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-strong trading volume on Thursday. Approximately 8,929 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 6,863 shares. The stock last traded at $14.80 and had previously closed at $14.98.

Analyst Upgrades and Downgrades

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

Ascentage Pharma Group International Price Performance

The stock has a 50 day moving average price of $15.98 and a 200 day moving average price of $20.34. 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 issued its quarterly earnings data on Wednesday, August 19th. The company reported ($0.65) earnings per share for the quarter. The company had revenue of $22.24 million for the quarter. As a group, analysts expect that Ascentage Pharma Group International - Unsponsored ADR will post -2.43 EPS for the current year.

Ascentage Pharma Group International Company Profile

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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