Apogee Therapeutics Inc. (NASDAQ:APGE) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Apogee Therapeutics now has an average analyst rating of "Hold" from 21 brokerage firms, with a mix of one sell, 15 holds, four buys and one strong buy.
• Broker price targets have been clustering near the deal value, with the average 12-month target around $121.25 and several firms recently lifting targets to about $135 while maintaining neutral-to-hold views.
• The stock is trading close to its recent highs amid a proposed AbbVie sale at $135.11 per share, though a law firm investigation into the deal and recent insider stock sales could add some uncertainty.

Shares of Apogee Therapeutics Inc. (NASDAQ:APGE - Get Free Report) have received an average recommendation of "Hold" from the twenty-one research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $121.2547.

A number of equities analysts recently issued reports on the stock. BTIG Research reissued a "buy" rating and issued a $137.00 price objective on shares of Apogee Therapeutics in a report on Wednesday, May 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Apogee Therapeutics in a research report on Monday, April 20th. Royal Bank Of Canada lifted their price target on shares of Apogee Therapeutics from $82.00 to $97.00 and gave the stock a "sector perform" rating in a research note on Monday, June 8th. Deutsche Bank Aktiengesellschaft downgraded shares of Apogee Therapeutics from a "buy" rating to a "hold" rating and boosted their price objective for the company from $116.00 to $135.00 in a research report on Monday. Finally, UBS Group lowered Apogee Therapeutics from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $100.00 to $135.11 in a research note on Tuesday.

Trending Headlines about Apogee Therapeutics

Here are the key news stories impacting Apogee Therapeutics this week:

• Positive Sentiment: Apogee’s proposed sale to AbbVie for $135.11 per share continues to anchor the stock near deal value and provides clear upside support for investors. Article Title
• Neutral Sentiment: Stifel kept a hold rating and raised its price target to $135, signaling the shares are already trading close to fair value under the transaction terms. Article Title
• Neutral Sentiment: Mizuho downgraded APGE to hold but lifted its target to $135, reflecting limited additional upside beyond the deal price. Article Title
• Neutral Sentiment: Short-interest data showed no meaningful change in bearish positioning, offering little new signal for traders. Article Title
• Negative Sentiment: Insider sales by CEO Michael Henderson and insider Carl Dambkowski may add some pressure, even though both transactions were made under pre-arranged 10b5-1 plans. Article Title
• Negative Sentiment: A law firm launched an investigation into whether the proposed sale price and process were adequate, creating a legal overhang that could complicate the deal. Article Title

Apogee Therapeutics Stock Performance

APGE stock opened at $132.68 on Friday. Apogee Therapeutics has a fifty-two week low of $34.34 and a fifty-two week high of $133.16. The business's 50-day moving average is $88.55 and its two-hundred day moving average is $79.67. The company has a market cap of $8.21 billion, a price-to-earnings ratio of -30.64 and a beta of 0.62.

Apogee Therapeutics (NASDAQ:APGE - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($1.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.07) by $0.01. Equities analysts predict that Apogee Therapeutics will post -4.45 earnings per share for the current year.

Insider Activity

In other news, insider Carl Dambkowski sold 26,400 shares of Apogee Therapeutics stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $132.60, for a total transaction of $3,500,640.00. Following the transaction, the insider directly owned 179,248 shares of the company's stock, valued at $23,768,284.80. The trade was a 12.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Thomas Henderson sold 80,000 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $132.54, for a total value of $10,603,200.00. Following the transaction, the chief executive officer owned 1,015,987 shares of the company's stock, valued at approximately $134,658,916.98. This trade represents a 7.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 182,900 shares of company stock valued at $20,427,135 in the last three months. 24.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apogee Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. purchased a new stake in shares of Apogee Therapeutics in the fourth quarter worth $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Apogee Therapeutics during the 4th quarter valued at $37,000. EverSource Wealth Advisors LLC lifted its stake in shares of Apogee Therapeutics by 61.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 645 shares of the company's stock valued at $54,000 after buying an additional 246 shares in the last quarter. Quantbot Technologies LP bought a new position in Apogee Therapeutics in the 3rd quarter worth $96,000. Finally, Seven Fleet Capital Management LP bought a new position in Apogee Therapeutics in the 4th quarter worth $136,000. Hedge funds and other institutional investors own 79.04% of the company's stock.

About Apogee Therapeutics

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.

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