Apogee Therapeutics price target raised to $160 from $130 at Guggenheim

Guggenheim analyst Seamus Fernandez raised the firm’s price target on Apogee Therapeutics (APGE) to $160 from $130 and keeps a Buy rating on the shares after zumilokibart Phase 2 Part A maintenance data came in above the firm’s expectations. The firm, which is “increasingly convinced” that zumilokibart will likely become the first line treatment option for the majority of patients with atopic dermatitis, “advocates strongly” that investors continue to Buy what it calls a “best idea” in Apogee.