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Investing.com - RBC Capital has raised its price target on Apellis Pharmaceuticals (NASDAQ:APLS) to $22.00 from $19.00 while maintaining a Sector Perform rating. Currently trading at $24.52, the company has shown strong momentum with a 34.7% return over the past six months. According to InvestingPro analysis, the stock appears slightly undervalued based on its Fair Value estimates.
The adjustment follows RBC’s surveys of 40 retina specialists and 12 nephrologists to assess geographic atrophy (GA) and rare kidney disease drug launches. For GA treatments, RBC found persistent co-pay assistance under-funding affecting more doctors than in previous surveys. Despite these challenges, InvestingPro data shows Apellis maintaining solid revenue growth of 20% year-over-year, with analysts expecting profitability this year.
The firm noted that complement inhibitor use in GA remains flat at 30%, with Syfovre usage also unchanged. However, doctors preferred Syfovre over Izervay for the first time in the survey, marking a positive development.
In the kidney disease segment, RBC reported that 11 of 12 surveyed nephrologists are already using complement inhibitors for C3G, with Empaveli being used more frequently than Fabhalta (49% versus 29%). Additionally, 11 of 12 respondents are using or plan to use Empaveli for IC-MPGN.
Based on these findings, RBC has increased its peak sales estimate for Empaveli to over $750 million by 2035, up from its previous projection of over $650 million, while maintaining expectations of flat year-over-year growth for Syfovre in 2025. With the next earnings report scheduled for October 30, investors can access comprehensive analysis and additional insights through InvestingPro’s detailed research reports, which cover over 1,400 US stocks including Apellis Pharmaceuticals.
In other recent news, Apellis Pharmaceuticals reported its second-quarter 2025 earnings, revealing a revenue of $178 million. This financial update highlights the company’s growth despite a reduction in operating expenses. During the earnings call, Apellis Pharmaceuticals emphasized its strategic developments aimed at expanding its product line and market presence. These recent developments are part of the company’s ongoing efforts to strengthen its position in the industry. The earnings report did not include any mention of mergers or acquisitions. Additionally, there have been no recent analyst upgrades or downgrades reported for Apellis Pharmaceuticals. Investors may find these updates significant as they consider the company’s financial performance and strategic direction.
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