William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on APLS stock, giving a Buy rating on April 28.
Lachlan Hanbury Brown has given his Buy rating due to a combination of factors that suggest long-term potential for Apellis Pharmaceuticals. Despite the recent underperformance in Syfovre’s revenue, which was below market expectations, the product retained a significant market share and showed an increase in new patient share. This indicates a strong underlying demand and potential for growth once current market dynamics stabilize.
Furthermore, the analyst sees Syfovre as having blockbuster potential in the geographic atrophy (GA) market over the long term, primarily due to its superior efficacy compared to competitors like Izervay. This superior efficacy is expected to drive significant market share gains as physicians become more familiar with the product’s benefits. These factors, combined with the company’s strategic focus and potential for market recovery, underpin the Buy rating given by Lachlan Hanbury Brown.
In another report released on April 28, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $44.00 price target.
Based on the recent corporate insider activity of 71 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.