Analyst Phil Nadeau from TD Cowen maintained a Buy rating on Apellis Pharmaceuticals (APLS – Research Report) and keeping the price target at $60.00.
Phil Nadeau has given his Buy rating due to a combination of factors that highlight Apellis Pharmaceuticals’ potential for growth and value. The company reported strong Q4 sales for Syfovre, with a 10% increase quarter-over-quarter, aligning with previous forecasts. This growth is primarily driven by paid demand, indicating a robust market presence and stable market share exceeding 60%.
Furthermore, Apellis is poised for future expansion with its strategic plans, including the filing of a supplemental NDA for pegcetacoplan in C3G/ICMPGN and the initiation of Phase III trials for Empaveli in new indications. The company’s financial position is also strong, with sufficient cash reserves to support operations until profitability. These elements collectively suggest that Apellis is undervalued, making it an attractive investment opportunity.
According to TipRanks, Nadeau is a 3-star analyst with an average return of 1.9% and a 40.21% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Neurocrine, and Dynavax.
In another report released today, Needham also maintained a Buy rating on the stock with a $40.00 price target.