William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on APLS stock, giving a Buy rating on April 20.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors related to Apellis Pharmaceuticals’ market dynamics and growth prospects. The recent label expansion for Izervay, a product associated with Apellis, is expected to lead to a rapid rebound in growth after an initial decline in revenue due to a complete response letter. The management’s optimistic guidance for Izervay sales in the upcoming fiscal year underscores confidence in market recovery and expansion.
Furthermore, the increase in diagnosis and treatment rates for geographic atrophy, driven by direct-to-consumer marketing efforts, is anticipated to bolster market growth, benefiting both Izervay and Syfovre. Despite some challenges, such as funding shortfalls affecting the anti-VEGF market, the overall outlook for Apellis remains positive, with the potential for significant market expansion and revenue growth, justifying the Buy rating.
Hanbury Brown covers the Healthcare sector, focusing on stocks such as Apellis Pharmaceuticals, ARS Pharmaceuticals, and LENZ Therapeutics. According to TipRanks, Hanbury Brown has an average return of 3.9% and a 50.00% success rate on recommended stocks.
In another report released on April 20, Bank of America Securities also maintained a Buy rating on the stock with a $41.00 price target.