J.P. Morgan analyst Anupam Rama has maintained their bullish stance on APLS stock, giving a Buy rating today.
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Anupam Rama has given his Buy rating due to a combination of factors, primarily driven by the recent approval of Apellis Pharmaceuticals’ drug, Empaveli, for the treatment of C3G and primary IC-MPGN in patients aged 12 and older. This approval was anticipated based on the robust clinical data, which demonstrated a significant reduction in proteinuria and stabilization of eGFR compared to placebo, positioning Empaveli favorably against competitors.
Furthermore, the clean safety profile of Empaveli and the potential for significant market penetration contribute to the positive outlook for Apellis. The approval is expected to positively impact Apellis’s stock, with projections indicating a potential rise in share value as the company approaches its second-quarter earnings update. Rama’s Buy rating reflects confidence in the long-term growth prospects of Apellis, supported by the expected success of Empaveli in the market.
According to TipRanks, Rama is an analyst with an average return of -6.0% and a 40.24% success rate. Rama covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Replimune Group, and Vera Therapeutics.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $57.00 price target.