RBC Capital has revised its price target for Apellis Pharmaceuticals (APLS, Financial), reducing it from $24 to $21 while maintaining a Sector Perform rating. This decision follows a comprehensive survey involving 51 retina specialists, which aimed to assess the market's current view on geographic atrophy drug launches.
The survey findings suggest a shift in market sentiment, becoming increasingly negative towards Apellis's drug Syfovre and the geographic atrophy sector as a whole. According to the survey, only 26% of specialists now favor Syfovre, whereas a larger proportion, 38%, are inclined towards Astellas' Izervay as their preferred treatment option.
These insights indicate that Apellis is facing heightened competition in the geographic atrophy treatment market, potentially impacting its position among healthcare professionals. This development has influenced RBC Capital's adjusted price target for Apellis, reflecting the challenges ahead in gaining traction for Syfovre.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 19 analysts, the average target price for Apellis Pharmaceuticals Inc (APLS, Financial) is $42.26 with a high estimate of $75.00 and a low estimate of $22.00. The average target implies an upside of 135.32% from the current price of $17.96. More detailed estimate data can be found on the Apellis Pharmaceuticals Inc (APLS) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Apellis Pharmaceuticals Inc's (APLS, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Apellis Pharmaceuticals Inc (APLS, Financial) in one year is $223.82, suggesting a upside of 1146.21% from the current price of $17.96. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Apellis Pharmaceuticals Inc (APLS) Summary page.
