Apogee Therapeutics Inc. shares surged to an all-time intraday high of $134.89 on Wednesday, capping a 256.92% gain over the past year as the company moves toward finalizing its $10.9 billion acquisition by AbbVie.
The milestone follows Apogee’s 2026 Annual Meeting of Stockholders, where shareholders approved the AbbVie deal and elected new directors. The transaction values Apogee at approximately $135.11 per share, aligning with recent analyst price targets.
Mizuho adjusted its price target to $135, while UBS raised its target to $135.11, both reflecting the acquisition valuation. BTIG maintained a Neutral rating despite the stock’s sharp rally.
Apogee’s balance sheet shows more cash than debt, though the company remains unprofitable over the trailing twelve months. InvestingPro estimates its fair value remains well below current market levels, underscoring the premium tied to the AbbVie agreement.
Separately, Apogee continues its antibody development partnership with Paragon Therapeutics, focusing on antibodies targeting the interleukin 31 receptor. Under the agreement, Paragon generates and characterizes candidates, with Apogee responsible for compensation.
