Apogee Therapeutics (NASDAQ:APGE) is one of the 17 biotechnology stocks with more than 50% upside.
On January 25, Citi analyst Geoff Meacham maintained a Buy rating on Apogee Therapeutics (NASDAQ:APGE), with a $95 price target. His forecast indicates potential upside of more than 37%.
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Selloff in Apogee Therapeutics (APGE) stock, following the release of Sanofi’s Phase 3 amlitelimab data, is viewed as a market overreaction by Meacham. He maintains that data readout does not negatively affect prospects for the company’s APG279. This candidate is a fixed-dose combination that targets both IL-13 and OX40L.
Back on January 22, Brian Abrahams from RBC Capital lowered his rating on Apogee Therapeutics (NASDAQ:APGE) from Outperform to Sector Perform. The analyst raised the price target from $70 to $83, implying nearly 20% upside.
Abrahams noted that the segment in which Apogee Therapeutics (NASDAQ:APGE) operates is “becoming increasingly crowded with well-entrenched existing players” despite the company’s primary drug, zumilokibart, showing potential as a long-acting IL-13 for atopic dermatitis. He reflected on the 108% surge in the share price over the past year, which limits the potential for additional gains.
Apogee Therapeutics (NASDAQ:APGE) is a clinical-stage biotechnology company developing novel biologics to treat inflammatory and immune diseases. These include atopic dermatitis, asthma, chronic obstructive pulmonary disease, eosinophilic esophagitis, and others. Its existing pipeline includes APG777, APG279, APG990, APG333, and APG808, all in different clinical trial stages.
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Disclosure: None. This article is originally published at Insider Monkey.
