---
title: "This Apogee Therapeutics Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295690989.md"
description: "Wall Street analysts downgraded five stocks on Wednesday. Raymond James downgraded On Holding (ONON) to Outperform with a $38 target. Deutsche Bank downgraded Atai Life Sciences (ATAI) to Hold with an $8 target. BTIG downgraded Apogee Therapeutics (APGE) to Neutral. Oppenheimer downgraded Legend Biotech (LEGN) to Perform with a $40 target. China Renaissance downgraded Tencent Music (TME) to Hold with a $9.30 target."
datetime: "2026-08-12T16:18:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295690989.md)
  - [en](https://longbridge.com/en/news/295690989.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295690989.md)
generator: "portal-rs"
---

# This Apogee Therapeutics Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Wednesday

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.

-   Raymond James analyst Rick Patel downgraded **On Holding AG** (NYSE:ONON) from Strong Buy to Outperform and cut the price target from $52 to $38. On Holding closed at $30.91 on Tuesday. See how other analysts view this stock.
-   Deutsche Bank analyst David Hoang downgraded **AtaiBeckley Inc** (NASDAQ:ATAI) from Buy to Hold and slashed the price target from $12 to $8. AtaiBeckley shares closed at $7.21 on Tuesday. See how other analysts view this stock.
-   BTIG analyst Julian Harrison downgraded **Apogee Therapeutics Inc** (NASDAQ:APGE) from Buy to Neutral. Apogee Therapeutics closed at $134.69 on Tuesday. See how other analysts view this stock.
-   Oppenheimer analyst Trevor Allred downgraded **Legend Biotech Corporation** (NASDAQ:LEGN) from Outperform to Perform and lowered the price target from $75 to $40. Legend Biotech shares closed at $21.83 on Tuesday. See how other analysts view this stock.
-   China Renaissance analyst Yiwen Zhang downgraded **Tencent Music Entertainment Group** (NYSE:TME) from Buy to Hold and announced a $9.3 price target. Tencent Music closed at $8.72 on Tuesday. See how other analysts view this stock.

Considering buying APGE stock? Here’s what analysts think:

*Photo via Shutterstock*

### Related Stocks

- [TME.US](https://longbridge.com/en/quote/TME.US.md)
- [ATAI.US](https://longbridge.com/en/quote/ATAI.US.md)
- [ONON.US](https://longbridge.com/en/quote/ONON.US.md)
- [LEGN.US](https://longbridge.com/en/quote/LEGN.US.md)
- [APGE.US](https://longbridge.com/en/quote/APGE.US.md)
- [01698.HK](https://longbridge.com/en/quote/01698.HK.md)

## Related News & Research

- [Public Employees Retirement System of Ohio Invests $21.97 Million in Tencent Music Entertainment Group Sponsored ADR $TME](https://longbridge.com/en/news/297421269.md)
- [On Holding (ONON) Stock Looks Like A Bargain While Broader Checks Stay Mixed](https://longbridge.com/en/news/297695182.md)
- [Legend Biotech CEO Alan Bash joins Morgan Stanley Global Healthcare Conference fireside chat](https://longbridge.com/en/news/297649230.md)
- [Will Legend Biotech’s (LEGN) Move to Q2 Profitability Reshape Its Investment Narrative?](https://longbridge.com/en/news/296957090.md)
- [GitLab Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts](https://longbridge.com/en/news/297605315.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**