Analysts Set Apogee Therapeutics, Inc. (NASDAQ:APGE) PT at $71.83

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been assigned a consensus rating of “Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $71.83.

Several research analysts have recently weighed in on the company. BTIG Research assumed coverage on Apogee Therapeutics in a research note on Wednesday, December 20th. They issued a “buy” rating and a $43.00 price target for the company. Stifel Nicolaus lifted their price objective on Apogee Therapeutics from $46.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Guggenheim lifted their price objective on Apogee Therapeutics from $44.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Wedbush reaffirmed an “outperform” rating and issued a $87.00 price objective (up previously from $40.00) on shares of Apogee Therapeutics in a report on Tuesday, March 5th. Finally, Jefferies Financial Group boosted their price target on Apogee Therapeutics from $37.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, March 6th.

Hedge Funds Weigh In On Apogee Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP purchased a new stake in shares of Apogee Therapeutics in the third quarter worth about $33,037,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Apogee Therapeutics in the third quarter worth approximately $474,000. Vivo Capital LLC purchased a new stake in shares of Apogee Therapeutics in the third quarter worth approximately $8,520,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Apogee Therapeutics in the third quarter worth approximately $7,988,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Apogee Therapeutics in the third quarter worth approximately $337,000. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

APGE stock opened at $53.07 on Tuesday. Apogee Therapeutics has a 1-year low of $14.19 and a 1-year high of $72.29. The business has a fifty day moving average price of $52.23 and a 200-day moving average price of $33.70.

Apogee Therapeutics (NASDAQ:APGE) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.13. On average, equities analysts predict that Apogee Therapeutics will post -2.67 EPS for the current fiscal year.

About Apogee Therapeutics

Apogee Therapeutics, Inc, through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD.