Mizuho Boosts Apogee Therapeutics (NASDAQ:APGE) Price Target to $110.00

Apogee Therapeutics (NASDAQ:APGE) had its target price boosted by stock analysts at Mizuho from $105.00 to $110.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 30.69% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group restated a “buy” rating and issued a $95.00 price target on shares of Apogee Therapeutics in a research note on Monday, February 2nd. Stifel Nicolaus set a $133.00 price objective on Apogee Therapeutics in a report on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Apogee Therapeutics in a research report on Wednesday, January 21st. Truist Financial initiated coverage on Apogee Therapeutics in a research note on Tuesday, March 17th. They set a “hold” rating and a $83.00 target price on the stock. Finally, Canaccord Genuity Group boosted their price target on Apogee Therapeutics from $89.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and one has assigned 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 $110.79.

Apogee Therapeutics Stock Performance

Apogee Therapeutics stock opened at $84.17 on Monday. The company has a 50-day simple moving average of $70.98 and a 200-day simple moving average of $65.42. The firm has a market capitalization of $5.85 billion, a P/E ratio of -19.95 and a beta of 1.39. Apogee Therapeutics has a one year low of $26.20 and a one year high of $85.04.

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

Insider Transactions at Apogee Therapeutics

In other news, Director Fairmount Funds Management Llc sold 1,750,000 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $76.30, for a total value of $133,525,000.00. Following the completion of the sale, the director directly owned 298,647 shares of the company’s stock, valued at approximately $22,786,766.10. This represents a 85.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Thomas Henderson sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $74.78, for a total transaction of $1,495,600.00. Following the transaction, the chief executive officer owned 1,152,987 shares in the company, valued at $86,220,367.86. This represents a 1.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,839,700 shares of company stock valued at $140,118,083. Company insiders own 42.77% of the company’s stock.

Institutional Trading of Apogee Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of APGE. Rockefeller Capital Management L.P. acquired a new stake in shares of Apogee Therapeutics in the fourth quarter valued at $25,000. ANTIPODES PARTNERS Ltd grew its holdings in 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 acquiring an additional 246 shares during the period. Los Angeles Capital Management LLC acquired a new position in Apogee Therapeutics during the fourth quarter worth about $37,000. Quantbot Technologies LP bought a new stake in Apogee Therapeutics in the third quarter worth about $96,000. Finally, Seven Fleet Capital Management LP acquired a new stake in Apogee Therapeutics in the 4th quarter valued at about $136,000. 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.