William Blair analyst Lachlan Hanbury Brown has maintained their bullish stance on APLS stock, giving a Buy rating on November 5.
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Lachlan Hanbury Brown has given his Buy rating due to a combination of factors that highlight the promising potential of Apellis Pharmaceuticals’ treatment, Empaveli, for kidney diseases such as C3G and IC-MPGN. The long-term data presented at the ASN 2025 Kidney Week demonstrated the sustained efficacy of Empaveli, particularly in achieving and maintaining proteinuria remission and normalization over a year of treatment. This is significant because early changes in proteinuria are strong indicators of long-term kidney health outcomes.
Moreover, the consistent efficacy of Empaveli, regardless of concurrent immunosuppressive therapy, suggests that some patients might eventually discontinue additional medications once stabilized on Empaveli. This flexibility could enhance patient management and treatment adherence. Additionally, early intervention with Empaveli in patients with nephrotic range proteinuria appears to maximize therapeutic benefits, further supporting its potential as a best-in-class treatment. These compelling clinical outcomes underpin the Buy rating for Apellis Pharmaceuticals.
In another report released on November 5, J.P. Morgan also maintained a Buy rating on the stock with a $36.00 price target.