Analysts Set Expectations for Apogee Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:APGE)

Apogee Therapeutics, Inc. (NASDAQ:APGE) – Research analysts at Wedbush raised their Q2 2024 earnings estimates for Apogee Therapeutics in a report released on Monday, May 13th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($0.59) per share for the quarter, up from their previous forecast of ($0.71). Wedbush has a “Outperform” rating and a $87.00 price target on the stock. The consensus estimate for Apogee Therapeutics’ current full-year earnings is ($2.68) per share. Wedbush also issued estimates for Apogee Therapeutics’ Q3 2024 earnings at ($0.60) EPS, Q4 2024 earnings at ($0.61) EPS, FY2024 earnings at ($2.43) EPS and FY2025 earnings at ($2.59) EPS.

Apogee Therapeutics (NASDAQ:APGE) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.13.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus raised their price objective on Apogee Therapeutics from $46.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Guggenheim raised their price target on Apogee Therapeutics from $44.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Jefferies Financial Group upped their price objective on Apogee Therapeutics from $37.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Bank of America assumed coverage on Apogee Therapeutics in a research report on Friday, May 10th. They set a “buy” rating and a $80.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Apogee Therapeutics has a consensus rating of “Buy” and an average target price of $73.00.

Apogee Therapeutics Stock Up 0.8 %

Shares of APGE stock opened at $53.75 on Wednesday. The company’s fifty day simple moving average is $57.44 and its two-hundred day simple moving average is $38.54. Apogee Therapeutics has a 52 week low of $14.19 and a 52 week high of $72.29. The stock has a market cap of $2.31 billion and a P/E ratio of -10.24.

Hedge Funds Weigh In On Apogee Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank acquired a new position in Apogee Therapeutics in the third quarter valued at approximately $52,000. Strs Ohio purchased a new position in Apogee Therapeutics in the third quarter valued at $87,000. New York State Common Retirement Fund acquired a new position in shares of Apogee Therapeutics in the third quarter worth about $90,000. SG Americas Securities LLC purchased a new stake in shares of Apogee Therapeutics during the 3rd quarter worth about $105,000. Finally, EntryPoint Capital LLC boosted its stake in shares of Apogee Therapeutics by 44.7% during the 1st quarter. EntryPoint Capital LLC now owns 1,997 shares of the company’s stock worth $133,000 after acquiring an additional 617 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.

Apogee Therapeutics Company Profile

Apogee Therapeutics, Inc, through its subsidiary, operates as a biotechnology company that develops biologics for the treatment of atopic dermatitis (AD), asthma, chronic obstructive pulmonary disease (COPD), and related inflammatory and immunology indications. The company primarily develops APG777, a subcutaneous (SQ) extended half-life monoclonal antibody (mAb) for AD; and APG808, an SQ extended half-life mAb for COPD.