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

Shares of Apogee Therapeutics, Inc. (NASDAQ:APGE) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $73.00.

Several brokerages recently issued reports on APGE. Guggenheim boosted their target price on shares of Apogee Therapeutics from $44.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Bank of America started coverage on shares of Apogee Therapeutics in a research report on Friday, May 10th. They issued a “buy” rating and a $80.00 price target for the company. Wedbush reiterated an “outperform” rating and issued a $87.00 price target on shares of Apogee Therapeutics in a research report on Monday, May 13th. Jefferies Financial Group upped their price target on shares of Apogee Therapeutics from $37.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Stifel Nicolaus boosted their target price on shares of Apogee Therapeutics from $46.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th.

Apogee Therapeutics Stock Down 0.1 %

Shares of APGE stock opened at $38.00 on Friday. The company has a 50 day moving average price of $47.41 and a 200-day moving average price of $43.50. Apogee Therapeutics has a 52 week low of $14.19 and a 52 week high of $72.29. The firm has a market capitalization of $2.22 billion and a PE ratio of -7.24.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). Analysts anticipate that Apogee Therapeutics will post -2.64 earnings per share for the current year.

Hedge Funds Weigh In On Apogee Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of APGE. EntryPoint Capital LLC raised its position in Apogee Therapeutics by 44.7% during the 1st quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock worth $133,000 after buying an additional 617 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Apogee Therapeutics during the 1st quarter worth approximately $212,000. Ameritas Investment Partners Inc. grew its stake in shares of Apogee Therapeutics by 111.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,126 shares of the company’s stock worth $274,000 after purchasing an additional 2,172 shares during the period. Principal Financial Group Inc. acquired a new stake in shares of Apogee Therapeutics during the 1st quarter worth approximately $339,000. Finally, Virtu Financial LLC acquired a new stake in shares of Apogee Therapeutics during the 1st quarter worth approximately $362,000. 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.