Apogee Therapeutics (NASDAQ:APGE) Price Target Raised to $110.00 at Mizuho
by Kim Johansen · The Markets DailyApogee Therapeutics (NASDAQ:APGE – Get Free Report) had its price target lifted by investment analysts at Mizuho from $105.00 to $110.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target would suggest a potential upside of 40.26% from the company’s previous close.
Other research analysts have also issued research reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $95.00 price target on shares of Apogee Therapeutics in a research note on Monday, February 2nd. Stifel Nicolaus set a $133.00 price objective on shares of Apogee Therapeutics in a report on Tuesday, January 6th. Truist Financial initiated coverage on shares of Apogee Therapeutics in a research note on Tuesday, March 17th. They issued a “hold” rating and a $83.00 target price for the company. Wall Street Zen cut Apogee Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Finally, Wolfe Research assumed coverage on Apogee Therapeutics in a research note on Wednesday, January 7th. They issued a “peer perform” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $110.79.
Read Our Latest Research Report on APGE
Apogee Therapeutics Price Performance
Shares of NASDAQ APGE traded up $0.60 during midday trading on Monday, reaching $78.42. 53,246 shares of the stock were exchanged, compared to its average volume of 1,082,196. Apogee Therapeutics has a 12 month low of $26.20 and a 12 month high of $85.04. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of -18.47 and a beta of 1.39. The business has a 50-day simple moving average of $70.98 and a two-hundred day simple moving average of $64.79.
Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.02. Equities research analysts expect that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Fairmount Funds Management Llc sold 1,750,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $76.30, for a total value of $133,525,000.00. Following the completion of the transaction, the director owned 298,647 shares of the company’s stock, valued at approximately $22,786,766.10. This trade represents a 85.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 18,700 shares of Apogee Therapeutics stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $77.84, for a total transaction of $1,455,608.00. Following the completion of the sale, the insider owned 212,523 shares in the company, valued at $16,542,790.32. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,839,700 shares of company stock worth $140,118,083. 42.77% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of APGE. Rockefeller Capital Management L.P. bought a new stake in shares of Apogee Therapeutics during the 4th quarter worth approximately $25,000. ANTIPODES PARTNERS Ltd increased its holdings in Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after buying an additional 246 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in Apogee Therapeutics during the fourth quarter worth $37,000. Quantbot Technologies LP bought a new stake in Apogee Therapeutics during the third quarter worth $96,000. Finally, Seven Fleet Capital Management LP acquired a new stake in Apogee Therapeutics in the fourth quarter valued at $136,000. 79.04% of the stock is currently owned by institutional investors.
Apogee Therapeutics Company Profile
Apogee Therapeutics, Inc is a clinical-stage biotechnology company dedicated to the discovery and development of novel small molecule therapeutics that selectively target the nuclear receptor RORγt, a master regulator of T cell-driven inflammatory pathways. By modulating RORγt activity, Apogee aims to offer an oral treatment option for patients with autoimmune and inflammatory skin disorders.
The company’s lead candidate, APG-157, is an oral RORγt inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.