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Investing.com - Stifel reiterated its buy rating and $95.00 price target on Apogee (NASDAQ:APOG) Therapeutics Inc (NASDAQ:APGE), currently trading at $41.18 with a market cap of $2.4 billion, ahead of upcoming Phase 2a data in atopic dermatitis for its drug candidate APG777. According to InvestingPro data, analyst targets range from $78 to $116, reflecting strong confidence in the company’s potential.
The research firm’s decision follows Wednesday’s posting of the APG777+APG990 head-to-head study versus Dupilumab on ClinicalTrials.gov. Stifel believes APG777 has a high likelihood of success in Phase 2a testing due to the derisked IL-13 mechanism of action and Apogee’s focus on trial execution. InvestingPro analysis shows the company maintains a strong financial health score of 2.45, with more cash than debt on its balance sheet.
Stifel noted that the initiation of the combination study suggests confidence in a successful outcome of the Phase 2a trial, which reduces downside risk of failure, safety concerns, or results requiring additional dose exploration.
The firm views an outcome achieving comparable efficacy to Dupixent/Ebglyss as positive since it would derisk development not only within the atopic dermatitis market but across Th2 diseases broadly.
Stifel expects the Phase 2a data to be released within the next few weeks, according to their estimation.
In other recent news, Apogee Therapeutics has been the focus of multiple analyst reports and clinical trial updates. The company concluded the first quarter of 2025 with $681.4 million in cash and equivalents, providing a strong financial foundation to support operations into early 2028. Apogee is eagerly anticipating the interim Part A 16-week data from the Phase II APEX trial for atopic dermatitis, expected in mid-2025, which is seen as a pivotal milestone for its clinical development. Analysts from TD Cowen, Stifel, Canaccord Genuity, and BTIG have maintained Buy ratings on the stock, with price targets ranging from $35 to $100, reflecting confidence in the company’s lead drug candidate, APG777.
APG777 is being positioned as a key competitor in the atopic dermatitis market, with a differentiated dosing regimen and potential efficacy comparable to existing treatments like Dupixent and Lebrikizumab. Stifel and BTIG have highlighted the drug’s potential to dominate the market due to its unique formulation and promising trial data. Additionally, Apogee plans to expand the use of its treatments into other indications, including asthma and eosinophilic esophagitis, with several trials set to begin in the coming years.
Market research indicates a strong preference among patients and physicians for APG777’s quarterly injectable dosing over daily oral options. Apogee’s strategy also includes exploring combination therapies to enhance treatment efficacy without compromising safety. Analysts have expressed optimism about Apogee’s comprehensive development approach, which could lead to a portfolio competing with major players in the inflammation and immunology space.
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