William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on APLS stock, giving a Buy rating on March 18.
Lachlan Hanbury Brown has given his Buy rating due to a combination of factors that highlight the potential of Apellis Pharmaceuticals’ product, Empaveli. The recent FDA approval of Novartis’s Fabhalta for C3 glomerulopathy (C3G) sets a positive precedent for Empaveli, which has shown promising results in its Phase III VALIANT study for the same condition. The study demonstrated a significant reduction in UPCR and stabilization of eGFR, indicating Empaveli’s efficacy as a treatment.
Furthermore, discussions with key opinion leaders suggest that treatment decisions will be primarily driven by efficacy, where Empaveli stands out as a best-in-class therapy. With a substantial patient population in the U.S. and no currently approved therapies for C3G and IC-MPGN, Empaveli’s potential market impact is significant. These factors collectively support the Buy rating for Apellis Pharmaceuticals, as the company is well-positioned to capitalize on this unmet medical need.
Hanbury Brown covers the Healthcare sector, focusing on stocks such as ARS Pharmaceuticals, Apellis Pharmaceuticals, and Lyra Therapeutics. According to TipRanks, Hanbury Brown has an average return of 16.9% and a 60.00% success rate on recommended stocks.
In another report released on March 18, J.P. Morgan also maintained a Buy rating on the stock with a $45.00 price target.