Analyst Akash Tewari of Jefferies maintained a Buy rating on Apellis Pharmaceuticals (APLS – Research Report), retaining the price target of $57.00.
Akash Tewari has given his Buy rating due to a combination of factors including Apellis Pharmaceuticals’ strong execution in the launch of Syfovre, despite some safety concerns. The company reported Q4 results that aligned with expectations, and while there are anticipated lower revenues in Q1 due to increased free sample distribution, the long-term growth outlook remains positive.
Additionally, Apellis is confident in its FDA approval prospects for Empavelli in C3G and ICGN, which could capture a significant patient population. The company’s strategic positioning with Medicare Advantage plans, where Syfovre is preferred over competitors, also supports the Buy rating. Overall, the potential for continued revenue growth and strategic advantages in the market underpin Tewari’s positive outlook on Apellis Pharmaceuticals.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $57.00 price target.
Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of APLS in relation to earlier this year.