Apogee Therapeutics, Inc. (NASDAQ:APGE) Receives $73.00 Consensus PT from Analysts

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $73.00.

A number of brokerages have commented on APGE. Stifel Nicolaus increased 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. Bank of America began coverage on Apogee Therapeutics in a report on Friday, May 10th. They set a “buy” rating and a $80.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $87.00 target price on shares of Apogee Therapeutics in a report on Monday, May 13th. Jefferies Financial Group increased 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. Finally, Guggenheim increased 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.

Apogee Therapeutics Price Performance

APGE opened at $37.47 on Friday. The stock has a market cap of $2.19 billion and a P/E ratio of -7.14. The stock’s 50 day simple moving average is $46.87 and its 200 day simple moving average is $43.89. Apogee Therapeutics has a 1-year low of $14.19 and a 1-year high of $72.29.

Apogee Therapeutics (NASDAQ:APGE) last released 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). Research analysts expect that Apogee Therapeutics will post -2.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in shares of Apogee Therapeutics during the third quarter worth about $33,037,000. Jennison Associates LLC acquired a new position in shares of Apogee Therapeutics during the fourth quarter worth about $2,899,000. Franklin Resources Inc. lifted its stake in shares of Apogee Therapeutics by 9.3% during the fourth quarter. Franklin Resources Inc. now owns 1,089,780 shares of the company’s stock worth $30,448,000 after purchasing an additional 92,423 shares in the last quarter. Braidwell LP lifted its stake in shares of Apogee Therapeutics by 38.7% during the fourth quarter. Braidwell LP now owns 681,101 shares of the company’s stock worth $19,030,000 after purchasing an additional 189,988 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of Apogee Therapeutics during the third quarter worth about $474,000. 79.04% of the stock is owned by hedge funds and other institutional investors.

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.