Brokerages Set Apogee Therapeutics, Inc. (NASDAQ:APGE) Price Target at $73.00

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been given an average recommendation of “Buy” by the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $73.00.

A number of research analysts have weighed in on the company. Bank of America assumed coverage on Apogee Therapeutics in a research note on Friday, May 10th. They set a “buy” rating and a $80.00 price target on the stock. Wedbush reiterated an “outperform” rating and issued a $87.00 target price on shares of Apogee Therapeutics in a report on Monday, May 13th. Guggenheim lifted their target price on Apogee Therapeutics from $44.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Stifel Nicolaus lifted their target price on Apogee Therapeutics from $46.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, Jefferies Financial Group lifted their target price on Apogee Therapeutics from $37.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, March 6th.

Apogee Therapeutics Stock Performance

Shares of NASDAQ:APGE opened at $39.95 on Friday. Apogee Therapeutics has a one year low of $14.19 and a one year high of $72.29. The stock has a market cap of $2.34 billion and a PE ratio of -7.61. The business’s fifty day moving average price is $46.44 and its two-hundred day moving average price is $43.82.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). As a group, equities research analysts predict that Apogee Therapeutics will post -2.64 earnings per share for the current fiscal year.

Institutional Trading of Apogee Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. EntryPoint Capital LLC increased its position in shares of Apogee Therapeutics by 44.7% during the first quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock worth $133,000 after acquiring an additional 617 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Apogee Therapeutics by 28.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 7,155 shares of the company’s stock valued at $475,000 after buying an additional 1,600 shares during the last quarter. SG Americas Securities LLC increased its holdings in Apogee Therapeutics by 34.0% in the fourth quarter. SG Americas Securities LLC now owns 6,607 shares of the company’s stock valued at $185,000 after buying an additional 1,676 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Apogee Therapeutics by 111.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,126 shares of the company’s stock valued at $274,000 after buying an additional 2,172 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in Apogee Therapeutics in the first quarter valued at about $212,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.