Morgan Stanley Raises PT on Apellis Pharmaceuticals (APLS) to $26, Keeps a Hold Rating

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) is one of the 13 Best Pharma Stocks to Buy According to Wall Street Analysts. On July 1, analyst Judah Frommer from Morgan Stanley raised the firm’s price target on Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) to $26.00 from $25.00 while maintaining a Hold rating on the stock. Frommer attributed the rating to the company’s market position and recent financial strategies.

Why Apellis Pharmaceuticals, Inc. (APLS) Skyrocketed On Monday

A biomedical scientist in a lab coat conducting research on biopharmaceutical compounds.

He cited the company’s significant royalty purchase agreement with Sobi, securing up to $300 million and including a $275 million upfront payment, stating that it would slash Sobi’s royalty obligations on Aspaveli sales by 90%. This would result in immediate financial benefits for Apellis and may even ease investor concerns regarding the company’s profitability.

Despite this positive development, Frommer maintained a cautious outlook for Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) due to its future prospects. He stated that while the anticipated regulatory decisions from the FDA and CHMP and the launches of Empaveli/Aspaveli in new indications are significant events, they bring in as much uncertainty as confidence in the company’s market potential.

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).

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