Bank of America Upgrades Apellis Pharmaceuticals to Buy, Highlights Strong Empaveli Launch
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: seekingalpha
- Strong Market Performance: Since receiving FDA approval for Empaveli in July for C3 glomerulopathy, Apellis has recorded 267 new patient start forms, indicating robust market demand and product acceptance.
- Payer Progress: Management reports no full denials to date, suggesting that Empaveli's broader label and superior efficacy compared to Novartis' Fabhalta have facilitated rapid market penetration.
- EU Approval Boost: Apellis' partner Sobi recently received EU approval for the drug against C3G and IC-MPGN, further enhancing Empaveli's competitive position in international markets.
- Growth Potential: With the price target unchanged at $28 per share, analysts believe there is room for continued upside as momentum builds in the coming quarters.
Analyst Views on APLS
Wall Street analysts forecast APLS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for APLS is 43.25 USD with a low forecast of 22.00 USD and a high forecast of 117.80 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
9 Buy
5 Hold
0 Sell
Moderate Buy
Current: 20.470
Low
22.00
Averages
43.25
High
117.80
Current: 20.470
Low
22.00
Averages
43.25
High
117.80
About APLS
Apellis Pharmaceuticals, Inc. is a commercial-stage biopharmaceutical company. The Company is focused on the discovery, development and commercialization of novel therapeutic compounds to treat diseases with high unmet needs through the inhibition of the complement system. SYFOVRE (pegcetacoplan injection) is the Company’s approved treatment for geographic atrophy secondary to age-related macular degeneration (GA). Its EMPAVELI (pegcetacoplan) is for the treatment of paroxysmal nocturnal hemoglobinuria (PNH). Its Aspaveli (pegcetacoplan) for the treatment of adults with PNH who are anemic after treatment with a C5 inhibitor for at least three months. Systemic pegcetacoplan has also been approved for the treatment of PNH in Japan, Saudi Arabia, Australia, the United Kingdom and other jurisdictions. Systemic pegcetacoplan is marketed under the trade name EMPAVELI in the United States, Saudi Arabia and Australia and Aspaveli in the European Union, Japan and the United Kingdom.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
