Apogee Therapeutics price target lowered to $82 from $87 at BofA

BofA analyst Tim Anderson lowered the firm’s price target on Apogee Therapeutics (APGE) to $82 from $87 and keeps a Buy rating on the shares. The firm updated its model for Apogee to reflect Wednesday’s capital raise, updating its estimate for net cash and shares outstanding from the public offering of $300M. The firm added that it made no changes to its APG777 launch timing or point of sale assumptions.