Mizuho Issues Positive Forecast for Apogee Therapeutics (NASDAQ:APGE) Stock Price

Apogee Therapeutics (NASDAQ:APGE) had its price target hoisted by Mizuho from $105.00 to $110.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts also recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $95.00 price objective on shares of Apogee Therapeutics in a research report on Monday, February 2nd. Wedbush boosted their price target on Apogee Therapeutics from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Royal Bank Of Canada decreased their price target on Apogee Therapeutics from $83.00 to $82.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. Canaccord Genuity Group raised their price target on Apogee Therapeutics from $89.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $137.00 price objective on shares of Apogee Therapeutics in a report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.79.

Apogee Therapeutics Trading Up 1.2%

Shares of NASDAQ APGE opened at $78.72 on Monday. The company has a market cap of $5.47 billion, a price-to-earnings ratio of -18.65 and a beta of 1.39. Apogee Therapeutics has a 12-month low of $26.20 and a 12-month high of $85.04. The stock’s 50 day simple moving average is $70.94 and its 200 day simple moving average is $65.09.

Apogee Therapeutics (NASDAQ:APGE) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($1.03) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.02. As a group, equities analysts forecast that Apogee Therapeutics will post -3.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael Thomas Henderson sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $74.78, for a total value of $1,495,600.00. Following the sale, the chief executive officer owned 1,152,987 shares of the company’s stock, valued at approximately $86,220,367.86. The trade was a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Carl Dambkowski sold 5,500 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $71.06, for a total value of $390,830.00. Following the completion of the sale, the insider owned 209,773 shares of the company’s stock, valued at approximately $14,906,469.38. This trade represents a 2.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,839,700 shares of company stock worth $140,118,083 over the last ninety days. Company insiders own 42.77% of the company’s stock.

Institutional Investors Weigh In On Apogee Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in shares of Apogee Therapeutics by 57.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,137,731 shares of the company’s stock valued at $45,202,000 after purchasing an additional 417,161 shares in the last quarter. Exane Asset Management bought a new stake in shares of Apogee Therapeutics in the 3rd quarter worth approximately $2,048,000. Rafferty Asset Management LLC raised its holdings in shares of Apogee Therapeutics by 55.9% in the 3rd quarter. Rafferty Asset Management LLC now owns 65,796 shares of the company’s stock worth $2,614,000 after purchasing an additional 23,585 shares in the last quarter. Boxer Capital Management LLC acquired a new stake in Apogee Therapeutics during the third quarter valued at approximately $1,986,000. Finally, SG Americas Securities LLC bought a new stake in Apogee Therapeutics during the third quarter worth approximately $5,333,000. 79.04% of the stock is currently owned by institutional investors.

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.