Apogee Therapeutics (NASDAQ:APGE) Given Buy Rating at BTIG Research

Apogee Therapeutics (NASDAQ:APGE)‘s stock had its “buy” rating reiterated by BTIG Research in a report released on Monday,Benzinga reports. They currently have a $137.00 price objective on the stock. BTIG Research’s price target suggests a potential upside of 90.54% from the stock’s current price.

Several other research analysts have also issued reports on APGE. Stephens began coverage on shares of Apogee Therapeutics in a research note on Tuesday, December 16th. They issued an “overweight” rating and a $95.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a report on Wednesday, January 21st. UBS Group raised shares of Apogee Therapeutics to a “strong-buy” rating in a research note on Wednesday, January 7th. Wedbush lifted their target price on shares of Apogee Therapeutics from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Finally, Craig Hallum reiterated a “buy” rating and set a $116.00 target price on shares of Apogee Therapeutics in a research report on Wednesday, January 7th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.82.

Apogee Therapeutics Stock Performance

NASDAQ:APGE opened at $71.90 on Monday. The company has a market cap of $5.00 billion, a price-to-earnings ratio of -17.04 and a beta of 1.39. The stock’s fifty day moving average price is $72.21 and its two-hundred day moving average price is $62.30. Apogee Therapeutics has a 52-week low of $26.20 and a 52-week high of $84.56.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($1.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.05) by $0.02. On average, equities analysts predict that Apogee Therapeutics will post -3.09 EPS for the current fiscal year.

Insider Activity at Apogee Therapeutics

In related news, CEO Michael Thomas Henderson sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $74.78, for a total transaction of $1,495,600.00. Following the completion of the sale, the chief executive officer directly owned 1,152,987 shares of the company’s stock, valued at approximately $86,220,367.86. This represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carl Dambkowski sold 18,700 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $77.84, for a total transaction of $1,455,608.00. Following the completion of the transaction, the insider owned 212,523 shares of the company’s stock, valued at $16,542,790.32. This trade represents a 8.09% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,839,700 shares of company stock worth $140,118,083. 42.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in shares of Apogee Therapeutics by 2.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 7,151 shares of the company’s stock valued at $540,000 after purchasing an additional 152 shares during the period. Stifel Financial Corp boosted its position in shares of Apogee Therapeutics by 3.5% during the fourth quarter. Stifel Financial Corp now owns 5,214 shares of the company’s stock worth $394,000 after buying an additional 175 shares during the period. ANTIPODES PARTNERS Ltd boosted its position in shares of Apogee Therapeutics by 41.2% during the third quarter. ANTIPODES PARTNERS Ltd now owns 843 shares of the company’s stock worth $33,000 after buying an additional 246 shares during the period. Comerica Bank grew its holdings in shares of Apogee Therapeutics by 1.0% during the fourth quarter. Comerica Bank now owns 35,872 shares of the company’s stock worth $2,708,000 after buying an additional 338 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Apogee Therapeutics during the fourth quarter worth about $37,000. Institutional investors own 79.04% of the company’s stock.

Apogee Therapeutics Company Profile

Apogee Therapeutics, Inc is a clinical-stage biotechnology company dedicated to the discovery and development of novel small molecule therapeutics that selectively target the nuclear receptor RORγt, a master regulator of T cell-driven inflammatory pathways. By modulating RORγt activity, Apogee aims to offer an oral treatment option for patients with autoimmune and inflammatory skin disorders.

The company’s lead candidate, APG-157, is an oral RORγt inverse agonist currently undergoing early-stage clinical evaluation for moderate to severe plaque psoriasis.