Cantor Fitzgerald Reaffirms Their Buy Rating on Apellis Pharmaceuticals Inc (APLS)

By Ryan Adsit

Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Apellis Pharmaceuticals Inc (APLSResearch Report) today and set a price target of $52. The company’s shares opened today at $19.01.

Piros said:

“: We are reiterating our OW rating on Apellis and lowering our 12-month price target to $52 from $57. This morning, Apellis issued a press release highlighting financial and corporate updates for the period ended on 3/31. Our decrease in price target is based off an increased share count, due to the recent March 2019 financing, and an increase to R&D and SG&A projections. With Phase 3 PEGASUS (PNH) enrollment expected to complete by the end of 2Q19, we believe APLS shares represent a strong buying opportunity, ahead of a potential 4Q19 data readout. Below we revisit our thoughts on APL-2 and its potential to be a disruptive addition to the PNH market.”

According to TipRanks.com, Piros is a 1-star analyst with an average return of -1.0% and a 46.0% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.

Currently, the analyst consensus on Apellis Pharmaceuticals Inc is a Strong Buy with an average price target of $43.33.

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The company has a one-year high of $25.14 and a one-year low of $11.45. Currently, Apellis Pharmaceuticals Inc has an average volume of 516.6K.

Based on the recent corporate insider activity of 14 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.