Apogee Therapeutics (NASDAQ:APGE) Hits New 52-Week High at $38.34

Apogee Therapeutics, Inc. is a biopharmaceutical company that focuses on developing and commercializing novel therapies for the treatment of rare genetic disorders. The company's lead product candidate is APG-102, an investigational therapy for the treatment of spinal muscular atrophy (SMA), a rare and debilitating neuromuscular disorder characterized by progressive muscle weakness and wasting.

On Friday, Apogee Therapeutics hit a new 52-week high of $38.34 on the NASDAQ stock exchange. This represents an increase of over 7% from its previous closing price of $34.82. The company traded as high as $38.34 and last traded at $37.80, with a volume of 154790 shares.

Several brokerages have recently commented on APGE. BTIG Research, a leading financial services firm, has issued a positive report on the company. In their report, they reiterated their buy rating and increased their price target to $60 from $50. They cited the positive data from the ongoing phase 3 clinical trial of APG-102 in SMA patients as a key driver of their bullish outlook.

Overall, the recent developments at Apogee Therapeutics suggest that the company is making progress in its efforts to develop and commercialize new therapies for rare genetic disorders. The positive comments from brokerages like BTIG Research also indicate that there is growing confidence in the potential of APG-102 and the company's overall prospects.