Apogee Therapeutics Inc. (NASDAQ:APGE) is one of the 13 hot stocks to buy with the highest upside potential. On February 2, Jefferies lowered its price target on Apogee Therapeutics Inc. (NASDAQ:APGE) to $95 from $98 while keeping its Buy rating on the stock. The analyst also reduced its risk-adjusted peak sales forecast for Apogee’s ’279 combination therapy from $1.8 billion to $1.6 billion to reflect potential limitations in high-risk patients.
Jefferies’ price target adjustment on Apogee Therapeutics Inc. stock followed a 6% fall in the biotechnology company’s share price after Amgen discontinued its OX40 collaboration with Kyowa Kirin and Sanofi deprioritized amlitelimab in certain non-atopic dermatitis indications. The analyst also noted that it does not anticipate Kaposi’s Sarcoma to significantly impact the commercial potential of OX40 therapies; however, a potential black box warning for high-risk populations is anticipated, despite expectations for a better safety profile compared to JAK inhibitors.
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Apogee Therapeutics Inc. is a biotechnology company that develops treatments for atopic dermatitis, chronic obstructive pulmonary disease, and related inflammatory and immunology indications.
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This article is originally published at Insider Monkey.
