In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Apellis Pharmaceuticals Inc (APLS), with a price target of $53. The company’s shares closed yesterday at $14.24, close to its 52-week low of $11.45.
Piros said:
“We reiterate our OW rating. 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 ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -14.4% and a 29.7% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Apellis Pharmaceuticals Inc with a $43.25 average price target.
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The company has a one-year high of $32 and a one-year low of $11.45. Currently, Apellis Pharmaceuticals Inc has an average volume of 297.6K.
Based on the recent corporate insider activity of 15 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.
