In a report released yesterday, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Apellis Pharmaceuticals Inc (NASDAQ: APLS), with a price target of $52. The company’s shares closed yesterday at $23.50.
Piros commented:
“We reiterate our OW rating and 12-month price target of $52/share on the company’s R&D day hosted on 6/26. Apellis reviewed details for its two Phase 3 programs with APL-2 in geographic atrophy (GA) and paroxysmal nocturnal hemoglobinuria (PNH), presented initial results from its Phase 2 study in autoimmune hemolytic anemia (AIHA), and provided an update on its Phase 2 PNH study. The company also reported early enrollment of the first patient for the Phase 3 PNH trial. Based on the totality of clinical data supporting APL-2 in GA and PNH, we believe the drug is well-positioned to succeed for both indications, which appear to have blockbuster potential.”
According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -2.5% and a 49.4% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
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 424.1K.
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.
