Geoff Meacham, an analyst from Citi, maintained the Buy rating on Apogee Therapeutics (APGE – Research Report). The associated price target remains the same with $95.00.
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Geoff Meacham’s rating is based on several promising developments within Apogee Therapeutics. The company has shown significant progress in its clinical programs, particularly with APG777 for Atopic Dermatitis and APG808 for asthma. The positive phase 1b results for APG808, indicating good tolerance and rapid suppression of inflammation markers, suggest a strong potential for durable asthma control. Additionally, the upcoming interim phase 2 data for APG777 is anticipated to be a crucial catalyst.
Market research further supports the potential of APG777, revealing a strong preference among patients and physicians for its quarterly dosing schedule over existing treatments. A high percentage of patients currently on biologics expressed willingness to switch to APG777, provided it matches the efficacy and safety of current options. This, along with the company’s solid cash position extending into 2028, presents Apogee Therapeutics as a compelling investment opportunity, justifying the Buy rating.
According to TipRanks, Meacham is a 3-star analyst with an average return of 1.0% and a 50.21% success rate. Meacham covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Pfizer, and Bristol-Myers Squibb.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $78.00 price target.