William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on APLS stock, giving a Buy rating on December 2.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors surrounding Apellis Pharmaceuticals’ recent developments. The publication of the VALIANT study results in the New England Journal of Medicine has further validated the efficacy of Empaveli (pegcetacoplan) for treating C3G and IC-MPGN. This publication is expected to enhance awareness and support the ongoing launch of Empaveli, as the study demonstrated impressive results, including a significant reduction in proteinuria, even among patients receiving active immunosuppressive therapy.
Additionally, despite some challenges with Syfovre’s growth due to a lack of copay assistance, the strong start of Empaveli’s launch in C3G/IC-MPGN represents a buying opportunity. Lachlan Hanbury Brown also sees long-term potential for Syfovre in the GA market, given its superior efficacy over competitors, which should eventually lead to significant market share gains. The resilience of Syfovre’s new patient share over the past year further supports this optimistic outlook.
In another report released on December 2, Citi also maintained a Buy rating on the stock with a $117.80 price target.
Based on the recent corporate insider activity of 89 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.