Apogee Therapeutics Attracts $95 Target Suggesting 37% Upside, RBC Hikes To $83
Citi maintained its Buy rating on Apogee Therapeutics with a $95 price target, forecasting over 37% upside and deeming the post-Sanofi Phase 3 selloff an overreaction given APG279’s prospects. RBC Capital lowered its rating to Sector Perform but boosted its target to $83, implying roughly 20% upside.
1. Diverging Analyst Ratings
Citi maintained its Buy rating on Apogee Therapeutics with a $95 price target, anticipating more than 37% upside, while RBC Capital lowered its rating to Sector Perform yet raised its target to $83, implying roughly 20% potential gains.
2. Meacham Defends APG279 Value
Geoff Meacham views the post-Sanofi Phase 3 amlitelimab selloff as an overreaction and underscores the potential of APG279, a fixed-dose IL-13 and OX40L combination, as key to the company’s inflammatory disease strategy.
3. RBC Notes Market Crowding
RBC analyst Brian Abrahams highlighted intensifying competition in the IL-13 atopic dermatitis segment and pointed to a 108% share rally over the past year as factors limiting further upside.
4. Broad Clinical Pipeline
Apogee’s pipeline includes APG279, zumilokibart (long-acting IL-13 for atopic dermatitis), and additional candidates APG777, APG990, APG333 and APG808, addressing asthma, COPD, eosinophilic esophagitis and other immune diseases.