APGE News & Events

Stifel downgraded Apogee Therapeutics (APGE) to Hold from Buy with a price target of $135, up from $133, after the company entered into an agreement to be acquired by AbbVie (ABBV) for $135.11 per share in cash. The firm considers this to be "a great outcome" for Apogee and its shareholders, the analyst tells investors.

RBC Capital analyst Brian Abrahams raised the firm's price target on Apogee Therapeutics (APGE) to $135 from $97 and keeps a Sector Perform rating on the shares after AbbVie (ABBV) announced its acquisition of Apogee for $135.11 per share in cash or $10.9B. The firm's higher price target reflects the deal price and likelihood the deal ultimately goes through, the analyst tells investors in a research note, adding that while competitive offers are possible as there are a number of key players in the space, Apogee likely ran a process that would have already incorporated other potential external interest.