Wedbush Reiterates Outperform Rating for Apogee Therapeutics (NASDAQ:APGE)

Wedbush reissued their outperform rating on shares of Apogee Therapeutics (NASDAQ:APGE) in a report published on Monday, RTT News reports. Wedbush currently has a $40.00 price objective on the stock. Wedbush also issued estimates for Apogee Therapeutics’ Q4 2023 earnings at ($0.44) EPS, FY2023 earnings at ($2.92) 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.

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

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $16.81 on Monday. The company’s 50-day simple moving average is $19.35. Apogee Therapeutics has a 1 year low of $14.19 and a 1 year high of $25.54.

Apogee Therapeutics (NASDAQ:APGE) last released its earnings results on Monday, November 13th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.08). On average, analysts forecast that Apogee Therapeutics will post -2.22 earnings per share for the current year.

Institutional Investors Weigh In On Apogee Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank acquired a new position 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 $68,000. UBS Group AG acquired a new position in shares of Apogee Therapeutics during the 3rd quarter worth about $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 bought a new position in Apogee Therapeutics during the third quarter worth $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.