Bank of America Securities analyst Tazeen Ahmad reiterated a Buy rating on Apellis Pharmaceuticals (APLS – Research Report) on February 28 and set a price target of $44.00.
Tazeen Ahmad’s rating is based on Apellis Pharmaceuticals’ strategic focus on expanding its market presence and the potential growth of its key products. The company has reported strong revenue figures for its flagship products, Syfovre and Empaveli, and despite some anticipated headwinds in the first quarter, management remains optimistic about overall growth in 2025. Ahmad highlights the company’s efforts to increase awareness of Syfovre among physicians and patients, as well as the recent launch of a direct-to-consumer campaign, which could drive future growth.
Additionally, Syfovre’s market leadership and preferred positioning in insurance plans are seen as significant advantages. The company’s plans to initiate a phase 2 trial for APL-3007 and the filing of a supplemental NDA for pegcetacoplan in C3G/IC-MPGN, with an expected launch in the second half of the year, further bolster its growth prospects. These factors, combined with updated financial estimates and a new price objective of $44, underpin Ahmad’s Buy rating for Apellis Pharmaceuticals.
In another report released on February 28, TD Cowen also maintained a Buy rating on the stock with a $60.00 price target.
APLS’s price has also changed moderately for the past six months – from $38.180 to $25.150, which is a -34.13% drop .