Apogee Therapeutics, Inc. (NASDAQ:APGE) Given Consensus Rating of “Buy” by Brokerages

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have earned an average rating of “Buy” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $71.83.

APGE has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on Apogee Therapeutics from $46.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Guggenheim raised their price objective on Apogee Therapeutics from $44.00 to $91.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Wedbush restated an “outperform” rating and set a $87.00 price objective (up from $40.00) on shares of Apogee Therapeutics in a research report on Tuesday, March 5th. Finally, Jefferies Financial Group raised their price objective on Apogee Therapeutics from $37.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th.

Apogee Therapeutics Stock Up 3.8 %

NASDAQ:APGE opened at $54.19 on Friday. The business’s 50-day moving average price is $55.71 and its 200 day moving average price is $36.07. Apogee Therapeutics has a 52-week low of $14.19 and a 52-week high of $72.29.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly 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 EPS for the current fiscal year.

Institutional Investors Weigh In On Apogee Therapeutics

Several large investors have recently made changes to their positions in the company. FMR LLC bought a new stake in shares of Apogee Therapeutics in the 3rd quarter valued at approximately $89,619,000. RTW Investments LP bought a new stake in Apogee Therapeutics during the third quarter worth approximately $45,637,000. RA Capital Management L.P. bought a new stake in Apogee Therapeutics during the third quarter worth approximately $42,129,000. Wellington Management Group LLP boosted its position in Apogee Therapeutics by 0.3% during the fourth quarter. Wellington Management Group LLP now owns 1,591,478 shares of the company’s stock worth $44,358,000 after purchasing an additional 4,749 shares during the period. Finally, Vanguard Group Inc. bought a new stake in Apogee Therapeutics during the third quarter worth approximately $23,894,000. Institutional investors own 79.04% of the company’s stock.

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.