Mizuho Securities has adjusted its investment rating for biotechnology company Apogee Therapeutics, downgrading it from "Outperform" to "Neutral"

However, the investment bank simultaneously raised the company’s target share price from the previous $110 to $135. This rating adjustment reflects analysts’ reassessment of the company’s near-term outlook. Although the target price has been raised, suggesting recognition of its long-term value, the downgrade to "neutral" indicates that in the short term, its share price may have already fully reflected current fundamentals or positive expectations, and its upside potential is relatively limited.