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Wells Fargo upgrades Apellis to Overweight; stock up 45% in a month
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Summary
Apellis Pharmaceuticals Inc. (NASDAQ: APLS) received a rating upgrade from Wells Fargo as the broker is positive on the company’s eye disorder drug. The broker upgraded Apellis to ‘overweight’, while raising its price target on the stock from US$34 to US$64.
Apellis Pharmaceuticals has a mean recommendation rating of 1.9 on a scale of one to five, as per Refinitiv data. APLS’ current rating is achieved by combining the coverage of 15 analysts. Among these analysts, five believe APLS to be a ‘strong buy’, six believe it is a ‘buy’ and four recommend a ‘hold’ rating.
Meanwhile, the consensus mean price target on the stock is US$67.64, an upside potential of over 50% on the stock’s closing price on Friday. Apellis closed at US$44.44 on Friday, September 15, 2023.
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