Sep. 25 at 10:52 AM
RBC Capital🏁
$APGE at an Outperform rating, a
$60 PT and said, we are optimistic about APGE's potential to deliver clinically differentiated biologics.
We believe preclinical, early clinical, and more recent Ph.II atopic dermatitis (AD) data demonstrated '777 and its combo therapies' advantageous PK properties, deep inflammatory signaling inhibition, and clinical activity. Along with sufficient de-risking from well-established targets, our positive KOL feedback on dosing convenience as a key element of clinical differentiation, and large revenue opportunities across several immunology and inflammation (I&I) indications, all underappreciated in the stock, in our view, we see share appreciation potential with upcoming clinical data. Initiating at Outperform, Speculative Risk with
$60 price target.
