William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on APLS stock, giving a Buy rating on October 23.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors reflecting Apellis Pharmaceuticals’ recent performance and strategic positioning. The company reported steady growth in Syfovre revenue, with a slight increase in total injections, aligning with management’s guidance. Despite facing competitive pressures, Syfovre maintained a significant market share, indicating resilience in its market position.
Furthermore, the launch of Empaveli in the C3G/IC-MPGN indication showed promising initial results, surpassing revenue expectations and demonstrating strong early adoption. The company’s financials were bolstered by a substantial upfront payment from a royalty repurchase agreement, contributing to a solid bottom line. These factors collectively suggest a positive outlook for Apellis, supporting the Buy rating.
According to TipRanks, Hanbury Brown is a 4-star analyst with an average return of 25.3% and a 72.22% success rate. Hanbury Brown covers the Healthcare sector, focusing on stocks such as ARS Pharmaceuticals, Ocular Therapeutix, and Harrow Health.
In another report released on October 23, TD Cowen also maintained a Buy rating on the stock with a $50.00 price target.