Bank of America Securities analyst Tim Anderson has maintained their bullish stance on APGE stock, giving a Buy rating on March 3.
Tim Anderson has given his Buy rating due to a combination of factors surrounding Apogee Therapeutics’ recent developments and future prospects. The company has reported promising first-in-human data for its APG990 molecule, which showed a favorable safety profile and potential for co-formulation with its lead asset, APG777. This positions Apogee to initiate a proof-of-concept trial comparing its combination therapy to Dupixent, a market leader, by 2025.
Additionally, Apogee’s robust cash reserves are expected to support operations through the first quarter of 2028, providing a stable financial foundation for its ongoing research and development activities. The company has outlined a series of upcoming clinical milestones, including pivotal phase 2 data for APG777 and other assets, which could significantly enhance its competitive position in the immunology space. These factors, combined with a price objective significantly higher than the current trading price, underpin Anderson’s optimistic outlook on the stock.
In another report released on March 3, Canaccord Genuity also reiterated a Buy rating on the stock with a $89.00 price target.
APGE’s price has also changed moderately for the past six months – from $46.950 to $30.370, which is a -35.31% drop .