Guggenheim analyst Seamus Fernandez raised the firm’s price target on Apogee Therapeutics (APGE) to $116 from $110 and keeps a Buy rating on the shares, which the analyst identifies as a “Best Idea.” Apogee announced “positive” Phase 1 data from APG990’s healthy volunteer trial and the results, along with preclinical coformulation and toxicity studies, validate bringing the combo of APG279, a coformulation of APG777 plus APG990, forward as a combo with potential best-in-class efficacy and dosing, the analyst tells investors.
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