Ascentage Pharma Group International (NASDAQ:AAPG) Shares Gap Down - Should You Sell?

Key Points

• Ascentage Pharma shares fell sharply at the open, dropping from a prior close of $15.45 to $14.69 and last trading near $14.61 on relatively light volume.
• Analysts remain broadly optimistic, with a consensus “Buy” rating and a $43.90 price target, despite JPMorgan lowering its target to $33.00. Other firms maintain buy or outperform ratings with targets ranging from $35 to $48.
• The company reported a quarterly loss of $0.65 per share on $22.24 million in revenue, while analysts expect a full-year loss of approximately $2.43 per share. Ascentage is a commercial-stage biotechnology company focused on cancer and other serious-disease treatments.

Ascentage Pharma Group International - Unsponsored ADR (NASDAQ:AAPG - Get Free Report)'s stock price gapped down before the market opened on Tuesday. The stock had previously closed at $15.45, but opened at $14.69. Ascentage Pharma Group International shares last traded at $14.6120, with a volume of 3,497 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AAPG shares. JPMorgan Chase & Co. decreased their price objective on Ascentage Pharma Group International from $46.00 to $33.00 and set an "overweight" rating on the stock in a research note on Thursday, October 8th. William Blair assumed coverage on Ascentage Pharma Group International in a research note on Friday, October 16th. They set an "outperform" rating for the company. BTIG Research reissued a "buy" rating and issued a $48.00 target price on shares of Ascentage Pharma Group International in a report on Friday, August 21st. Citigroup began coverage on shares of Ascentage Pharma Group International in a research note on Wednesday, October 14th. They set a "buy" rating and a $46.00 target price on the stock. Finally, Citizens Jmp began coverage on shares of Ascentage Pharma Group International in a report on Tuesday, October 13th. They issued a "market outperform" rating and a $35.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $43.90.

Ascentage Pharma Group International Stock Performance

The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.09. The stock has a fifty day moving average of $16.17 and a 200 day moving average of $20.53.

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