Apogee Therapeutics (NASDAQ:APGE) Price Target Raised to $128.00

by · The Cerbat Gem

Apogee Therapeutics (NASDAQ:APGE – Get Free Report) had its price target boosted by analysts at BTIG Research from $115.00 to $128.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price points to a potential upside of 68.91% from the stock’s current price.

Other analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, October 8th. Royal Bank Of Canada boosted their price target on shares of Apogee Therapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Mizuho started coverage on shares of Apogee Therapeutics in a research report on Tuesday, October 21st. They set an “outperform” rating and a $105.00 price objective for the company. Stephens began coverage on shares of Apogee Therapeutics in a report on Tuesday, December 16th. They issued an “overweight” rating and a $95.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Apogee Therapeutics in a research note on Tuesday, December 9th. They issued a “buy” rating and a $103.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $99.80.

Get Our Latest Analysis on Apogee Therapeutics

Apogee Therapeutics Trading Up 0.4%

Shares of NASDAQ APGE opened at $75.78 on Monday. The stock has a market cap of $5.18 billion, a PE ratio of -17.30 and a beta of 1.41. Apogee Therapeutics has a 12-month low of $26.20 and a 12-month high of $80.99. The company has a 50-day moving average of $68.71 and a 200 day moving average of $50.71.

Apogee Therapeutics (NASDAQ:APGE – Get Free Report) last issued its earnings results on Monday, November 10th. The company reported ($1.11) earnings per share for the quarter, topping the consensus estimate of ($1.14) by $0.03. On average, sell-side analysts forecast that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Insider Activity

In related news, CEO Michael Thomas Henderson sold 40,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,000,400.00. Following the completion of the transaction, the chief executive officer owned 1,232,987 shares of the company’s stock, valued at approximately $92,486,354.87. This trade represents a 3.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carl Dambkowski sold 10,900 shares of Apogee Therapeutics stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $75.00, for a total transaction of $817,500.00. Following the completion of the sale, the insider owned 271,108 shares of the company’s stock, valued at $20,333,100. This trade represents a 3.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 101,685 shares of company stock valued at $7,179,630. 42.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in shares of Apogee Therapeutics by 99.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 769 shares of the company’s stock valued at $33,000 after buying an additional 383 shares during the period. ANTIPODES PARTNERS Ltd boosted its holdings in Apogee Therapeutics by 41.2% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock valued at $33,000 after acquiring an additional 246 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Apogee Therapeutics by 18.0% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,779 shares of the company’s stock valued at $77,000 after acquiring an additional 272 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Apogee Therapeutics during the third quarter worth about $96,000. Finally, BNP Paribas Financial Markets increased its stake in Apogee Therapeutics by 34.7% during the second quarter. BNP Paribas Financial Markets now owns 3,649 shares of the company’s stock worth $158,000 after purchasing an additional 941 shares during the period. 79.04% of the stock is currently owned by hedge funds and other institutional investors.

About Apogee Therapeutics

(Get Free Report)

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.

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