Apogee Therapeutics initiated with an Overweight at Stephens

Stephens initiated coverage of Apogee Therapeutics (APGE) with an Overweight rating and $95 price target Lead asset APG777 is advancing in atopic dermatitis and asthma, with potential expansion across other I&I indications, notes the analyst, who contends that current data in AD has demonstrated “compelling efficacy and safety.” The firm views APG777 as positioned as “a credible competitor” to Dupixent, which it calls “the multi-billion-dollar benchmark in Type 2 inflammation.”