B.Riley FBR analyst Madhu Kumar reiterated a Hold rating on Apellis Pharmaceuticals Inc (NASDAQ: APLS) today and set a price target of $27. The company’s shares opened today at $24.
Kumar observed:
“Yesterday afternoon, 6/26, Apellis Pharmaceuticals (APLS) presented its R&D Day, focusing on C3 inhibitor APL-2 in geographic atrophy (GA) and paroxysmal nocturnal hemoglobinuria (PNH). While we remain positive on APL-2 in GA (with Phase III studies to start in 2H18), we reiterate our skepticism on APL-2 in PNH (with the Phase III PEGASUS trial having started), particularly relative to Alexion’s highly effective franchise in the orphan blood condition. We thus reiterate our Neutral rating and $27 price target.”
According to TipRanks.com, Kumar is a 5-star analyst with an average return of 34.7% and a 56.5% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals Inc, Clementia Pharmaceuticals Inc, and Iovance Biotherapeutics Inc.
Apellis Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $39.50.
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The company has a one-year high of $32 and a one-year low of $12.45. Currently, Apellis Pharmaceuticals Inc has an average volume of 430K.
Based on the recent corporate insider activity of 10 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.
