Apogee Therapeutics Inc. Common Stock (APGE) fair value
Healthcare · Biotechnology · NASDAQ · United States
$135.07+0.00%
Market cap $10.2BNext earnings 2026-08-10Updated Oct 17, 2026
Our verdict
Close to our fair value
Price
$135.07
Model fair valueConfidence: low
about $135
Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Valued as a pre-revenue company: Analyst consensus.
ACCE opinionApogee Therapeutics Inc. Common Stock (APGE)
Fair value
Not available
ACCE price target
$125
Rating
Not rated
Horizon
12 months
ACCE price target published on 10 Oct 2026, 00:00 CEST.
Price used: $135 at the close on 11 Sept 2026, 22:00 CEST.
Models: Analyst consensus.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
40
out of 100
Analysts
100% buy
9 covering
P/E
0.0x
forward 0.0x
1-year return
+262.4%
Apogee Therapeutics Inc. Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Apogee is a clinical-stage biotech developing long-acting antibody therapies for inflammatory skin disease, led by APG777 for atopic dermatitis, a drug built to be dosed far less often than current biologics. With no revenue (0.0% growth, 0.0% gross margin) and an ROE of -32.5%, the equity is a pure bet on clinical and regulatory outcomes rather than on earnings, so the case rests entirely on pipeline data. A $10.2B market cap for a company with no product sales prices in substantial success, which makes the question for the deeper look whether the upcoming readouts and dosing data can support that valuation. The 40/100 composite score and absence from any index suggest the market and quantitative screens are not yet rewarding the story, so the work is to decide whether the trial evidence justifies the gap.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
moderate
Cash burn with no revenue
Free cash flow is -$232.6M and operating margin is 0.0%, with no revenue growth to offset the burn. Funding depends on existing cash and future raises.
moderate
Insider selling, no buying
Insiders sold $14.74M across the last 10 disclosed transactions and bought nothing. Insider ownership is only 2.3%.
moderate
Earnings miss
Latest quarter (Q3 2026) EPS came in 3.6% below expectations. Forward P/E of -26.0 reflects continued losses.
AI research notes
AI-assisted·How I use AIWritten Oct 15, 2026 · figures from 2026-06-30 · prices to Sep 11, 2026
Why it could do well
Nine of nine analysts rate the stock Buy or Strong Buy, a unanimous show of conviction from the Street.
Debt is almost nonexistent, with debt to equity at 0.01, so the company is not burdened by borrowing.
Earnings per share came in at -1.14 against -1.10 expected, a small miss that leaves the operating picture broadly intact.
Why it could disappoint
Free cash flow over the last twelve months was negative $233M, meaning the business is consuming cash rather than generating it.
Return on equity of -32.5% shows shareholder capital is being eroded, not compounded, by current operations.
The share count rose 10.0% in the last fiscal year, diluting existing holders' stake in the company.
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Walk me through this stock
Plain-English pros, cons, and what to watch. Pro feature.
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Valuation
INVESTOR
Where APGE's valuation models land
Price
$135.07
Model fair valueConfidence: low
about $135
Model
Fair value
Upside
Analyst consensus
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Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
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