UBS analyst Eliana Merle maintains $Apellis Pharmaceuticals (APLS.US)$ with a buy rating, and adjusts the target price from $83 to $45.
According to TipRanks data, the analyst has a success rate of 39.4% and a total average return of -5.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Apellis Pharmaceuticals (APLS.US)$'s main analysts recently are as follows:
Post the Q3 report, there's recognition of a clear opportunity to build a 'post-GA' thesis around the company's prospects. This sentiment is bolstered by strong conviction in the performance and data related to C3G and IC-MPGN, which are viewed as robust and superior to oral competitors in a wider context.
Following Apellis's report of third-quarter Syfovre revenues that fell short of expectations, the underlying sentiment is that the company's current valuation may not fully reflect the prospective size of the market opportunity. While seeking further details on the geographic atrophy (GA) market, there's an anticipation that the potential introduction in C3G/IC-MPGN could balance the more gradual progress in GA.
The firm noted that Apellis disclosed results for the third quarter of 2024, which presented a decline in Syfovre revenue. This was attributed to moderate growth in vial numbers contrasted with a reduced net price and heightened competition.
Note:
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