Here is Why JPMorgan is Overweight on Apellis Pharma (APLS)

Apellis Pharmaceuticals Inc. (NASDAQ:APLS) is one of the 10 most shorted biotech stocks to buy according to hedge funds. On March 5, Anupam Rama from JPMorgan increased the price target on Apellis Pharmaceuticals Inc. (NASDAQ:APLS) from $36 to $37. The analyst reiterated his Overweight rating on the stock, which currently offers an adjusted upside potential of more than 84%. Rana reflected on a recent survey conducted by the firm, involving 23 nephrologists. It revealed that the company’s prescription medication for Paroxysmal Nocturnal Hemoglobinuria, Empaveli, is well placed for “meaningful” market share gains. Back on February 25, Wedbush decreased the firm’s price target on Apellis Pharmaceuticals Inc. (NASDAQ:APLS) from $20 to $18. The firm maintained its Neutral rating on the stock. Wedbush noted that the fourth-quarter report for Apellis Pharmaceuticals Inc. (NASDAQ:APLS) largely aligned with consensus expectations, as key results had already been preannounced in January. Looking ahead, management expects Syfovre pricing to remain flat through fiscal year 2026 and anticipates limited growth potential. Apellis Pharmaceuticals Inc. (NASDAQ:APLS) is a biopharmaceutical company dedicated to tackling diseases that currently have few or no effective treatment options. Their key products help patients with rare blood disorders and vision-threatening eye conditions. They also have several innovative treatments in development, including cutting-edge gene editing approaches, backed by strong industry collaborations. While we acknowledge the potential of APLS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 40 Most Popular Stocks Among Hedge Funds Heading Into 2026 and 12 Oversold Financial Stocks to Invest in According to Hedge Funds. Disclosure: None. Follow Insider Monkey on Google News.