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Investing.com - Stifel has reiterated its Buy rating and $95.00 price target on Apogee (NASDAQ:APOG) Therapeutics Inc (NASDAQ:APGE) following recent Phase 2a data for its atopic dermatitis (AD) treatment APG777. According to InvestingPro data, analyst targets range from $78 to $116, with a strong Buy consensus recommendation.
The investment firm hosted a call with dermatology experts from Chicago and Mount Sinai/private practice to discuss the clinical trial results, which both physicians viewed as supportive of an efficacy and safety profile comparable to existing treatments Dupixent and Ebglyss.
The medical experts indicated that if APG777 receives approval with a clinical profile similar to current treatments but with quarterly or less frequent maintenance dosing, a majority of new patients would likely prefer Apogee’s treatment over alternatives.
While the physicians noted potential challenges in switching current patients due to Dupixent’s established market position, they found the absolute EASI75 efficacy measurements and quartile 4 data "intriguing," suggesting potential differentiation pending more Phase 2b data.
On safety considerations, the doctors observed that conjunctivitis rates appeared on the higher end compared to clinical and real-world alternatives, emphasizing that more long-term data would be needed to fully evaluate this aspect of the treatment. Subscribers to InvestingPro can access 8 additional exclusive insights about APGE’s financial health and market position.
In other recent news, Apogee Therapeutics has reported positive results from its Phase 2 APEX clinical trial for its atopic dermatitis treatment, APG777. The treatment met all primary and key secondary endpoints, demonstrating a 71.0% reduction in the Eczema Area Severity Index (EASI) at Week 16 compared to 33.8% for placebo. The company noted that 66.9% of patients achieved EASI-75, marking the highest response rate for any biologic in a global study for this condition. Following these results, Apogee has accelerated the timeline for further trial data, with 52-week maintenance data expected in the first half of 2026. Jefferies has raised its price target for Apogee Therapeutics to $96, citing promising trial data and a strategically attractive clinical profile for APG777. Canaccord Genuity and Citi have both reaffirmed their Buy ratings, with price targets of $89 and $95, respectively, highlighting the treatment’s robust efficacy and safety profile. Citi described the trial results as a "major de-risking event" and forecasts combined APG777 sales to reach $2.5 billion by 2032. Apogee is also conducting a Phase 1b head-to-head trial of APG279 versus Dupixent, with results anticipated in the second half of 2026.
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