Analyst Geoff Meacham from Citi maintained a Buy rating on Apogee Therapeutics and keeping the price target at $95.00.
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Geoff Meacham has given his Buy rating due to a combination of factors surrounding Apogee Therapeutics’ recent data and future potential. The Phase 2a data for APG777 in treating atopic dermatitis has shown significant efficacy, with a notable EASI-75 score and a favorable safety profile, positioning the drug as a competitive player in its field. Despite some concerns about conjunctivitis rates, these are in line with other treatments, and the potential for quarterly dosing offers a unique advantage.
Furthermore, the company’s robust cash position and several upcoming catalysts within the next year contribute to a strong risk/reward profile. The ongoing Phase 2b trial is progressing well, aiming to optimize dosing, and the results are anticipated to further validate the drug’s efficacy. These elements, combined with projected sales growth, underpin Meacham’s optimistic outlook and Buy recommendation for Apogee Therapeutics.
In another report released on July 2, Guggenheim also maintained a Buy rating on the stock with a $116.00 price target.