11 Oversold NASDAQ Stocks to Buy Right Now

3. Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Perf YTD: -43.72%

Analyst Upside: 131.07%

Number of Hedge Fund Holders: 44

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) is a commercial-stage biopharmaceutical company that discovers, develops, and commercializes novel therapeutic compounds for treating diseases with unmet needs. Its product portfolio primarily includes EMPAVELI and SYFOVRE. SYFOVRE treats geographic atrophy secondary to age-related macular degeneration (GA), while EMPAVELI treats paroxysmal nocturnal hemoglobinuria (PNH). It ranks third on our list of the oversold NASDAQ stocks to buy now.

On April 25, William Blair analyst Lachlan Hanbury Brown maintained their bullish stance on Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), giving a Buy rating on April 20 because of its growth prospects and market dynamics. The analyst said that the recent label expansion for Izervay, which is associated with Apellis, is anticipated to result in a quick growth rebound after an initial revenue decline because of a complete response letter. The company’s management gave optimistic guidance for Izervay sales in the coming fiscal year, which reflects confidence in expansion and market recovery.

The analyst further opined that diagnosis and treatment rates for geographic atrophy are undergoing growth due to direct-to-consumer marketing efforts, which is expected to support market growth for Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) and prove beneficial to both Syfovre and Izervay. Although the company is experiencing some challenges, such as funding shortfalls affecting the anti-VEGF market, its overall outlook remains positive, supported by potential for revenue growth and significant market expansion.