Aerpio Pharmaceuticals (NASDAQ:ARPO) stock is flying high on Thursday after an analyst upgrade gave the company’s shares a boost today.
Let’s take a dive into that news and what potential ARPO investors need to know about it below.
- H.C. Wainwright analyst Robert Burns is responsible for the upgrade today that has ARPO stock on the move.
- His new rating for the biopharmaceutical company bumps it up from a neutral rating to a buy rating.
- This matches the consensus rating for the stock, which is made up of two buy ratings.
- The good news for ARPO stock continues with Burns setting a $22 price target for the shares.
- That’s an incredibly bullish price target compared to the consensus of $2.75 per share.
- It also represents a massive upside of 1,186.6% from the penny stock’s closing price of $1.74 on Wednesday’s close.
- So why is the H.C. Wainwright taking such a bullish stance on ARPO stock?
- It all has to do with its merger deal with Aadi Bioscience.
- Burns says the deal should put the combined company on a “solid path towards becoming a self-sustaining, commercial-stage enterprise with a differentiated lead product having applicability across multiple specialty oncology indications.”
- ARPO stock is seeing heavy trading today following news of the analyst upgrade.
- As of this writing, more than 117 million shares of the stock have changed hands.
- That’s a massive jump over its daily average trading volume of roughly 5.6 million shares.
ARPO stock was up 57.9% as of Thursday morning and is up 158.6% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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