Is Apellis Pharmaceuticals (APLS) Undervalued After Its Recent Share Price Rebound?

Apellis Pharmaceuticals (APLS) has quietly staged a rebound this month, with the stock up roughly 23% even as its past year performance remains weak, inviting a closer look at what might be changing.

See our latest analysis for Apellis Pharmaceuticals.

The 23.5% 1 month share price return has helped Apellis claw back some ground from a difficult stretch. However, the 1 year total shareholder return remains deep in negative territory, which suggests sentiment may be stabilising rather than fully turning.

If this rebound has you rethinking the sector, it could be a good moment to scan other potential opportunities across healthcare stocks and see how they compare on risk and growth.

With shares still well below past highs but trading on improving fundamentals, the key question now is whether Apellis is genuinely undervalued after a harsh reset or if the market is already pricing in the next leg of growth.

Most Popular Narrative Narrative: 32.8% Undervalued

Apellis last closed at $23.78, while the most widely followed narrative sees fair value materially higher, setting up a sharp disconnect between price and expectations.

The recent FDA label expansion for EMPAVELI into rare kidney diseases (C3G and IC MPGN), along with active plans to launch and pursue additional indications (FSGS and DGF), positions Apellis to access larger patient pools and accelerate long term topline growth, driven by the increasing prevalence of rare and age associated diseases. This is likely to result in higher future revenues and market diversification.

Read the complete narrative.

Want to see what justifies paying far above today’s price? This narrative focuses on aggressive revenue expansion, sharply improving margins, and a premium future earnings multiple. Curious how those pieces fit together?

Result: Fair Value of $35.39 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, sustained patient access challenges or slower than expected SYFOVRE uptake could undermine the bullish case and force analysts to revisit growth assumptions.

Find out about the key risks to this Apellis Pharmaceuticals narrative.

Another Angle on Valuation

While the narrative suggests Apellis is 32.8% undervalued, the earnings based view tells a tougher story. At a price to earnings ratio of 66.9 times versus a fair ratio of 29.8 times and an industry average of 19.1 times, the stock screens expensive. Is the market overpaying for future growth?

See what the numbers say about this price — find out in our valuation breakdown.

Build Your Own Apellis Pharmaceuticals Narrative

If you see things differently or just prefer your own research, you can build a personalised view in just a few minutes: Do it your way.

A great starting point for your Apellis Pharmaceuticals research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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