BioTech

Nothing but Love for Aptevo Therapeutics Inc (NASDAQ:APVO)

Aptevo Therapeutics Inc (NASDAQ:APVO)

Aptevo Therapeutics Inc (NASDAQ:APVO)

Aptevo Therapeutics Inc (NASDAQ:APVO) shares are up 3%, to $3.17, on moderate volume after the biotechnology company released its Q3 2017 earnings report. The net income was $37.9 million or $1.77 per share, compared to a net loss of $71.7 million or (-$3.55) per share for the same period last year. According to Zacks Investment Research, analysts at Piper Jaffray were expecting an EPS of $2.25. They also have a “Strong Buy” rating on APVO shares.

Aptevo Therapeutics Inc (NASDAQ:APVO)

Aptevo Therapeutics Inc (NASDAQ:APVO) is a clinical-stage biotechnology company focused on novel oncology and hematology therapeutics. Aptevo has a commercial product, IXINITY® coagulation factor IX (recombinant), an FDA-approved treatment for Hemophilia B.  Aptevo has two ADAPTIR antibody candidates currently in clinical development and a broad pipeline of novel investigational-stage bispecific antibody candidates focused in immuno-oncology and autoimmune disease and inflammation.

Marvin L. White, President and Chief Executive Officer of Aptevo Therapeutics Inc (NASDAQ:APVO) stated “The third quarter was a transformative period for Aptevo. During this time we delivered on two key objectives – continuing to ensure that Aptevo is solidly financed to execute on our commercial and R&D strategy, and expanding our innovative portfolio of bispecific antibody candidates where we see the highest potential for long-term shareholder value creation.”

Two noteworthy statements accompanied the Aptevo Therapeutics Inc (NASDAQ:APVO) earnings release. The first was that the company monetized non-core commercial assets and completed the sale of Aptevo’s three hyperimmune products, (WinRho® SDF, HepaGam B®, and VARIZIG®) to Saol Therapeutics for total consideration of up to $74.5 million, raising significant non-dilutive funding to support Aptevo’s ongoing commercial and R&D efforts. The second was that as a result of the sale of Aptevo’s three hyperimmune products (WinRho SDF, HepaGam B, and VARIZIG) to Saol Therapeutics, completed on September 28, 2017, Aptevo’s hyperimmune business has been excluded from its continuing operations.

APVO Stock Performance

Aptevo Therapeutics Inc (NASDAQ:APVO) earnings has been disappointing. In 2012, there was an EPS loss of (-$2.21) that, with one minor exception, expanded year-on-year until 2016 when the biotech company reported a per share loss of (-$5.55).

However, investors have not been deterred from pursuing the shares. Year-to-date, APVO shares are up 25%, and for the year the shares are up over 50%. The consensus, one-year price target for APVO share is $6.00.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

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