Canaccord Genuity Reiterated a Buy Rating on Apogee Therapeutics (APGE)

Apogee Therapeutics, Inc. (NASDAQ:APGE) is one of the 11 Hot New Stocks to Invest in Now. On July 7, analyst Edward Nash of Canaccord Genuity reiterated a Buy rating on Apogee Therapeutics, Inc. (NASDAQ:APGE) with a price target of $89.

The reiterated bullish sentiment comes after the company released promising results from its APEX study for its drug APG777. The drug is an IL-13 monoclonal antibody aimed at treating atopic dermatitis. The Phase II study met its primary and secondary goals, showing a significant reduction in the Eczema Area and Severity Index score, which is a key measure of disease severity. Notably, improvement was seen as early as Week 2, indicating a strong drug effect.

Analyst Nash also highlights the ongoing Part B of the APEX study and expects 52-week maintenance data in early 2026. These data are important for confirming the drug’s long-term benefits and dosing schedule, which could be quarterly to semi-annual.

Apogee Therapeutics, Inc. (NASDAQ:APGE) is a clinical-stage biotech company developing novel biologic drugs for inflammatory and immunology diseases.

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Disclosure: None. This article is originally published at Insider Monkey.