11 Best Hot Stocks to Buy According to Wall Street Analysts

9. Apogee Therapeutics Inc. (NASDAQ:APGE)

Gain Over the Past 1 Month: 30.03%

Number of Hedge Fund Holders: 36

Average Upside Potential as of July 3: 94.90%

Apogee Therapeutics Inc. (NASDAQ:APGE) is one of the best hot stocks to buy according to Wall Street analysts. Earlier in May, Apogee Therapeutics announced positive interim results from its Phase 1b trial of APG808. APG808 is a novel and half-life extended IL-4Rα antibody being developed for the treatment of various inflammatory and immunology (I&I) conditions, such as atopic dermatitis/AD, asthma, eosinophilic esophagitis/EoE, and chronic obstructive pulmonary disease/COPD.

The Phase 1b trial was a double-blind, placebo-controlled, and multiple-dose study that evaluated the safety, tolerability, and initial efficacy of APG808 in 22 adult patients with mild-to-moderate asthma. Results from the trial showed that APG808 was well tolerated through 12 weeks of follow-up, with a safety profile consistent with other anti-IL-4Rα class drugs. No severe adverse events were reported, and no adverse events led to study discontinuation.

APG808 is a novel subcutaneous monoclonal antibody targeting IL-4Rα, which is a clinically validated target across eight Type 2 allergic diseases. Preclinical studies indicated that APG808 has similar binding properties and femtomolar affinity for IL-4Rα as Dupixent and showed similar inhibition. Asthma, which is a common non-communicable disease, is estimated to affect 40 million adults and 12 million children across the US, France, Germany, Italy, Japan, Spain, and the UK.

Apogee Therapeutics Inc. (NASDAQ:APGE) is a clinical-stage biotechnology company that develops novel biologics for the treatment of various inflammatory and immunological indications.