FY2023 EPS Estimates for Apogee Therapeutics, Inc. (NASDAQ:APGE) Reduced by Analyst

Apogee Therapeutics, Inc. (NASDAQ:APGE) – Equities research analysts at Wedbush cut their FY2023 EPS estimates for shares of Apogee Therapeutics in a report released on Monday, November 13th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($2.92) per share for the year, down from their previous estimate of ($2.57). Wedbush currently has a “Outperform” rating and a $40.00 target price on the stock. The consensus estimate for Apogee Therapeutics’ current full-year earnings is ($2.22) per share. Wedbush also issued estimates for Apogee Therapeutics’ Q4 2023 earnings at ($0.44) EPS, Q2 2024 earnings at ($0.51) EPS, Q3 2024 earnings at ($0.57) EPS, Q4 2024 earnings at ($0.62) EPS, FY2024 earnings at ($2.17) EPS, FY2025 earnings at ($2.89) EPS, FY2026 earnings at ($3.05) EPS and FY2027 earnings at ($3.19) EPS.

Several other equities analysts have also issued reports on APGE. William Blair reissued an “outperform” rating and set a $40.00 target price on shares of Apogee Therapeutics in a research note on Monday, August 28th. TD Cowen started coverage on Apogee Therapeutics in a research note on Tuesday, August 8th. They set an “outperform” rating for the company. Guggenheim assumed coverage on Apogee Therapeutics in a research report on Tuesday, August 8th. They set a “buy” rating and a $29.00 price objective for the company. Jefferies Financial Group began coverage on shares of Apogee Therapeutics in a research note on Tuesday, August 8th. They issued a “buy” rating and a $29.00 price target for the company. Finally, Stifel Nicolaus started coverage on shares of Apogee Therapeutics in a report on Tuesday, August 8th. They issued a “buy” rating and a $34.00 price objective on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Apogee Therapeutics presently has an average rating of “Buy” and a consensus target price of $34.40.

Apogee Therapeutics Stock Performance

NASDAQ:APGE opened at $17.86 on Thursday. Apogee Therapeutics has a 52 week low of $14.19 and a 52 week high of $25.54. The stock’s fifty day moving average price is $19.49.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, November 13th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.08).

Institutional Investors Weigh In On Apogee Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank acquired a new stake in shares of Apogee Therapeutics during the third quarter worth about $52,000. Legal & General Group Plc acquired a new position in Apogee Therapeutics during the third quarter worth approximately $68,000. UBS Group AG purchased a new stake in Apogee Therapeutics in the third quarter valued at approximately $76,000. Strs Ohio acquired a new stake in shares of Apogee Therapeutics in the third quarter valued at approximately $87,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Apogee Therapeutics during the third quarter worth approximately $90,000. 32.06% of the stock is currently owned by institutional investors and hedge funds.

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), 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.