William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on APLS stock, giving a Buy rating on July 18.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Lachlan Hanbury Brown has given his Buy rating due to a combination of factors surrounding Apellis Pharmaceuticals’ recent FDA approval for Empaveli. This approval, which targets C3 glomerulopathy (C3G) and primary immune complex membranoproliferative glomerulonephritis (IC-MPGN), marks the third approval for the company in four years, highlighting its consistent success in drug development. The approval is supported by robust Phase III trial results demonstrating significant reductions in proteinuria and stabilization of kidney function, which positions Empaveli as a promising treatment option.
Furthermore, the commercial potential for Empaveli is substantial, with an estimated 5,000 patients in the U.S. who could benefit from this treatment. Apellis has proactively prepared for the market launch by establishing a dedicated nephrology salesforce, indicating readiness to capitalize on this opportunity. While competition exists, particularly from Fabhalta, Empaveli’s approval covers a broader patient base, enhancing its market position. These strategic and operational strengths underpin Lachlan Hanbury Brown’s optimistic outlook and Buy rating for Apellis Pharmaceuticals.
In another report released on July 18, Robert W. Baird also maintained a Buy rating on the stock with a $50.00 price target.