Positive Opinion from EMA: Sobi announced that the European Medicines Agency's Committee for Medicinal Products for Human Use has recommended marketing authorization for Aspaveli (pegcetacoplan) to treat C3 glomerulopathy and primary immune-complex membranoproliferative glomerulonephritis in adults and adolescents.
Phase 3 Study Results: The recommendation is based on positive outcomes from the Phase 3 VALIANT study, which supports the efficacy of pegcetacoplan in the specified conditions.
Expected Approval Timeline: The European Commission is anticipated to make a decision on the approval by the first quarter of 2026.
Co-Development Rights: Sobi and Apellis Pharmaceuticals hold global co-development rights for systemic pegcetacoplan, indicating a collaborative effort in bringing this treatment to market.
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
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.
9 Buy
5 Hold
0 Sell
Moderate Buy
Current: 22.000
Low
22.00
Averages
43.25
High
117.80
Current: 22.000
Low
22.00
Averages
43.25
High
117.80
BofA
Tazeen Ahmad
Neutral -> Buy
upgrade
$28
2026-01-21
New
Reason
BofA
Tazeen Ahmad
Price Target
$28
AI Analysis
2026-01-21
New
upgrade
Neutral -> Buy
Reason
BofA analyst Tazeen Ahmad upgraded Apellis to Buy from Neutral with an unchanged price target of $28. The firm believes current valuation levels underappreciate the commercial potential of Empaveli in new rare kidney disease indications. Since approval in late July, Apellis has received 267 new patient start forms for Empaveli, representing 5% penetration of the 5,000 U.S. patient population, the analyst tells investors in a research note. BofA is "encouraged" by the "strong launch trajectory" and see rooms for continued estimate upside.
Wells Fargo
Overweight
downgrade
$29 -> $26
2026-01-20
New
Reason
Wells Fargo
Price Target
$29 -> $26
2026-01-20
New
downgrade
Overweight
Reason
Wells Fargo lowered the firm's price target on Apellis to $26 from $29 and keeps an Overweight rating on the shares. Empa's C3G/IC-MPGN ramp is slower than expected, and the firm is cutting its 2026-2030 estimates by 20%-50% to shallow its ramp. No material change to Wells' Syfovre estimates, as the PFS launch will be a show-me story.
Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for APLS
Unlock Now
Stifel
Buy
downgrade
$55 -> $48
2025-12-19
Reason
Stifel
Price Target
$55 -> $48
2025-12-19
downgrade
Buy
Reason
Stifel lowered the firm's price target on Apellis to $48 from $55 and keeps a Buy rating on the shares as part of a 2026 outlook note for the analyst's Biopharma coverage.
JPMorgan
Anupam Rama
Overweight
downgrade
$40 -> $36
2025-11-05
Reason
JPMorgan
Anupam Rama
Price Target
$40 -> $36
2025-11-05
downgrade
Overweight
Reason
JPMorgan analyst Anupam Rama lowered the firm's price target on Apellis to $36 from $40 and keeps an Overweight rating on the shares. The firm updated the company's model.
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.
