Cantor Fitzgerald analyst Elemer Piros maintained a Buy rating on Apellis Pharmaceuticals Inc (NASDAQ: APLS) today and set a price target of $53. The company’s shares opened today at $16.71.
Piros commented:
“Apellis is developing APL-2, an investigational C3 inhibitor for complement-mediated diseases. In our view, APLS shares offer a compelling risk-reward profile due to the large market potential and compelling efficacy profile in PNH and geographic atrophy (GA). Valuation Summary We arrive at our 12-month price target of $53/share by assessing the after-tax, risk- adjusted NPV of potential future cash flows from APL-2.”
According to TipRanks.com, Piros has 0 stars on 0-5 star ranking scale with an average return of -4.0% and a 45.0% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
Currently, the analyst consensus on Apellis Pharmaceuticals Inc is a Strong Buy with an average price target of $41.75.
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Based on Apellis Pharmaceuticals Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $33.33 million. In comparison, last year the company had a GAAP net loss of $11.57 million.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of APLS in relation to earlier this year.
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Apellis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company, which develops novel therapeutic compounds. It develops complement immunotherapies for the treatment of complement-dependent autoimmune and inflammatory diseases through APL-2 product.
