Wedbush analyst Laura Chico initiated Aptinyx with an Outperform rating and a price target of $7. The analyst notes that the stock has retreated to about a $130M market cap after the company's Phase 2 diabetic peripheral nephropathy data, as investors try to assess which pipeline programs hold potential. The analyst states however that the NYX-783 data contains "encouraging pre-clinical data for post-traumatic stress disorder" treatment, and with phase 2 studies are now underway, she sees a readout remaining on track for the second half of FY20. With cash balance at about $4 per share, Chico adds that there is limited downside on Aptinyx stock.