Judah Frommer, an analyst from Morgan Stanley, maintained the Hold rating on Apellis Pharmaceuticals (APLS – Research Report). The associated price target remains the same with $31.00.
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Judah Frommer’s rating is based on the recent developments in the competitive landscape concerning Apellis Pharmaceuticals, particularly in the context of the updated label for Astellas’ Izervay. The removal of limitations on treatment duration for Izervay levels the playing field in dosing decisions, which could exert modest pressure on Apellis’ market position. The update does not include every-other-month dosing, a factor that might influence physicians’ prescribing decisions. Furthermore, there have been concerns regarding reimbursement for Izervay beyond the first year of treatment, but these issues are expected to diminish soon. Considering these factors, Frommer’s Hold rating reflects a balanced view of Apellis Pharmaceuticals’ potential performance amidst these industry dynamics.
In another report released on February 10, Piper Sandler also maintained a Hold rating on the stock with a $32.00 price target.
Based on the recent corporate insider activity of 80 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.