---
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)
---

# 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

- [On Holding Analysts Slash Their Forecasts After Q2 Results](https://longbridge.com/en/news/295668916.md)
- [Why Tencent Music stock sank this week](https://longbridge.com/en/news/296002408.md)
- [William Blair downgrades On Holding AG (ONON) to a Hold](https://longbridge.com/en/news/295566523.md)
- [TD Cowen Sticks to Its Hold Rating for Legend Biotech (LEGN)](https://longbridge.com/en/news/295580007.md)
- [On co-CEO Caspar Coppetti acquires $1,993,790 of On Holding common shares](https://longbridge.com/en/news/296105555.md)