On Nov 07, major Wall Street analysts update their ratings for $Apellis Pharmaceuticals (APLS.US)$, with price targets ranging from $30 to $55.
Goldman Sachs analyst Salveen Richter maintains with a buy rating, and adjusts the target price from $74 to $36.
Mizuho Securities analyst Graig Suvannavejh maintains with a hold rating.
Baird analyst Colleen M. Kusy maintains with a buy rating, and adjusts the target price from $92 to $55.
Oppenheimer analyst Francois Brisebois maintains with a buy rating, and adjusts the target price from $65 to $40.
Piper Sandler analyst Biren Amin maintains with a hold rating, and adjusts the target price from $40 to $32.
Furthermore, according to the comprehensive report, the opinions of $Apellis Pharmaceuticals (APLS.US)$'s main analysts recently are as follows:
The assessment post the Q3 report indicates that there's potential for a reevaluation of the stock in 2024, presenting an opportunity to build a new investment thesis following the 'post-GA' period. This is based on the high conviction in the prospects of C3G and IC-MPGN, where the data appear exceptionally robust and seem to surpass that of the oral competitor, even in a wider context.
The company's recent Syfovre revenues were below anticipated levels. Analysts are seeking further understanding regarding the geographic atrophy market but believe that the present valuation might not fully recognize the market's potential. Additionally, the prospective introduction in C3G/IC-MPGN may compensate for the more gradual growth in the GA segment.
The company reported results for Q3 2024, which featured a decline in Syfovre revenue on a sequential basis due to modest growth in vial numbers coupled with a reduced net price and heightened competition.
The company reported a Q3 topline of $196.8M, which fell short of both the anticipated figure of $202.2M and the Street's estimate of $201M. This shortfall was attributed to higher G/N adjustments and a lower number of Syfovre vials compared to expectations.
The firm believes that the third quarter has validated the perspective of a decelerating geographic atrophy market, suggesting a need for adjustments in Syfovre forecasts. The expectation of progressively negative remarks on pricing and a more tempered ascent to peak levels is anticipated to continue impacting the stock's performance. The firm advises investors against initiating a position in the shares at this point.
Here are the latest investment ratings and price targets for $Apellis Pharmaceuticals (APLS.US)$ from 6 analysts:
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
