Analyst Edward Nash of Canaccord Genuity maintained a Buy rating on Apogee Therapeutics (APGE – Research Report), with a price target of $89.00.
Edward Nash’s rating is based on promising developments in Apogee Therapeutics’ clinical trials. The company has announced encouraging interim results from their Phase I study of APG990, an OX40L antibody, which demonstrated a significant half-life extension. This finding suggests the potential for maintenance dosing every three to six months, which could enhance patient compliance and treatment efficacy.
Furthermore, Apogee is advancing APG279, a combination of APG990 and another antibody, APG777, with plans for a Phase Ib study comparing it to an existing treatment, Dupixent, in 2025. The positive pharmacokinetic results from the study support the feasibility of a co-formulated injection, potentially positioning Apogee’s product as a strong competitor in the atopic dermatitis market. These factors contribute to Nash’s optimistic outlook and Buy rating for Apogee Therapeutics.
In another report released yesterday, Guggenheim also maintained a Buy rating on the stock with a $116.00 price target.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of APGE in relation to earlier this year.