BTIG raised the firm’s price target on Apogee Therapeutics (APGE) to $137 from $128 and keeps a Buy rating on the shares. A key goal for zumilokibart is to emerge as the first IL-13 inhibitor with dual asthma and atopic dermatitis labeling, and the firm sees high odds of that materializing following today’s results. BTIG is increasing its probability of success of zumilokibart in asthma to 85% from 60%. Phase 1b results reported today in mild-to-moderate asthma land well into BTIG’s blue sky scenario, it adds.
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