One of the worst scourges of our time, experts estimated that nearly two million new cancer cases were diagnosed last year. However, the advent of advanced therapeutics that the coronavirus pandemic engendered bodes well for biotechnology firms like Aprea Therapeutics (NASDAQ:APRE), which on Friday received positive coverage from Wedbush analyst Robert Driscoll. In response, APRE stock is up over 14% in late morning trading.
Initiating coverage of Aprea with an “outperform” rating, Driscoll also assigned a price target of $3. Based on the closing price of 80 cents for the July 7 session, this forecast would imply a 275% increase. Speculators will likely note that, at the time-of-writing, APRE stock’s price is just above 90 cents. Thus APRE stock is trending just above its 50-day moving average, a common barometer of nearer-term market strength.
Read more about Aprea Therapeutics here.
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