** 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))
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