** Brokerage Citi starts coverage on Apogee Therapeutics APGE.O with "buy" rating

** Brokerage sets PT at $95, representing more than double upside to the stock's last close

** Brokerage sees peak combined adjusted revenues of $2.2 billion from co's experimental drug candidate APG777 to treat atopic dermatitis (AD) or often called as eczema, a type of skin disease, and asthma

** Citi says "capturing a fraction of the Dupixent patient in AD is itself a multi-billion dollar opportunity"

** Dupixent is jointly developed by Sanofi SASY.PA and Regeneron REGN.O for patients with AD and asthma

** Brokerage believes physicians are unlikely to switch well-managed patients from Dupixent to APG777 unless the latter shows comparable or superior efficacy with similar safety profile

** All eight brokerages covering the stock rate it at "buy" or higher, their median PT is $93.5

** APGE has fallen 44.4% in the past 12 months

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))