Apogee Therapeutics, Inc. (NASDAQ:APGE) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been assigned an average rating of “Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $71.83.

Several equities analysts have commented on APGE shares. Guggenheim increased their target price on Apogee Therapeutics from $44.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Stifel Nicolaus boosted their target price on shares of Apogee Therapeutics from $46.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Wedbush reaffirmed an “outperform” rating and set a $87.00 price target (up previously from $40.00) on shares of Apogee Therapeutics in a research note on Tuesday, March 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Apogee Therapeutics from $37.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th.

Institutional Trading of Apogee Therapeutics

Institutional investors have recently bought and sold shares of the company. Amalgamated Bank bought a new stake in shares of Apogee Therapeutics during the 3rd quarter valued at about $52,000. Strs Ohio acquired a new position in Apogee Therapeutics in the third quarter valued at approximately $87,000. New York State Common Retirement Fund bought a new position in shares of Apogee Therapeutics during the 3rd quarter worth approximately $90,000. SG Americas Securities LLC acquired a new stake in shares of Apogee Therapeutics during the 3rd quarter worth approximately $105,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Apogee Therapeutics in the 4th quarter valued at $155,000. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Stock Performance

APGE opened at $51.26 on Friday. The company’s 50 day moving average is $57.14 and its 200-day moving average is $37.12. Apogee Therapeutics has a 1-year low of $14.19 and a 1-year high of $72.29.

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

Apogee Therapeutics Company Profile

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.