Wedbush Raises Price Target on Apogee Therapeutics (APGE)

Apogee Therapeutics Inc. (NASDAQ:APGE) is one of the 10 most shorted biotech stocks to buy according to hedge funds.

On March 3, Wedbush increased its price target on Apogee Therapeutics Inc. (NASDAQ:APGE) from $90 to $95. The firm maintained an Outperform rating on the stock, which yields 30% upside potential at the current level.

Apogee Therapeutics Inc. (NASDAQ:APGE) announced its earnings and reaffirmed its March guidance on 52-week Phase 2 APEX study data. The firm expects the induction data for the dose-ranging trial in the second quarter of 2026, following the previous exposure-response data. Wedbush expects the Phase 3 trials to begin in the second half of the year, with further upside from APG279 in the latter half.

On March 2, Apogee Therapeutics Inc. (NASDAQ:APGE) reported a FY25 net loss of $255.8 million, compared to a net loss of $182.1 million during the prior year. Michael Henderson, M.D., Chief Executive Officer, stated:

In the last 12 months we made meaningful progress across our pipeline, including advancing zumilokibart with positive APEX Phase 2 Part A results, as well as proof-of-concept data from our Phase 1b trial in asthma, we are now focused on proving out the potential of zumilokibart in AD with the APEX Phase 2 Part A 52-week maintenance readout expected in March, followed by the APEX Phase 2 Part B dose optimization readout expected in the second quarter and Phase 3 initiation targeted by year end. Later this year, we plan to provide additional details on development for expansion indications including asthma and EoE, further advancing our vision for zumilokibart as a pipeline-in-a-product. In the second half of 2026, our expected head-to-head readout of APG279 compared to DUPIXENT has potential to be the first proof-of-concept for Apogee’s combination programs in AD. With a cash runway into the second half of 2028, we believe we are well positioned to work toward launching a transformative therapy this decade as we build a leading I&I biotech.

Apogee Therapeutics Inc. (NASDAQ:APGE) is a clinical-stage biotechnology company that develops novel biologics to cure 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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