Buy Recommendation for Apellis Pharmaceuticals Driven by Syfovre’s Market Potential and Strategic Expansion

J.P. Morgan analyst Anupam Rama has maintained their bullish stance on APLS stock, giving a Buy rating on May 9.

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.