J.P. Morgan analyst Anupam Rama has maintained their bullish stance on APLS stock, giving a Buy rating on May 9.
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Anupam Rama’s rating is based on the promising market dynamics surrounding Apellis Pharmaceuticals’ product, Syfovre. The company is focusing on expanding its market share through direct-to-consumer efforts and educating ophthalmologists and optometrists about identifying geographic atrophy patients. This strategic approach is expected to drive steady market expansion, which is a key factor in the Buy rating.
Additionally, the ongoing data updates and the 48-week GALE extension data for Syfovre are resonating well with physicians, indicating increasing efficacy over time. Despite a moderated ramp compared to previous expectations, the current stock price is seen as significantly undervaluing the potential of Syfovre. These factors collectively support the long-term potential of Apellis Pharmaceuticals, justifying the Buy recommendation.
In another report released on May 9, Cantor Fitzgerald also maintained a Buy rating on the stock with a $52.00 price target.