Apellis climbs as brokerages raise PT on prelim Q4 eye drug sales

Apellis Pharmaceuticals

09/01/2024 18:57

** Shares of Apellis Pharmaceuticals  APLS.O  rise 5.2% to
$71.93, their highest since July 2023
    ** Brokerage Jefferies raises PT for co to $62 from $50,
while BofA raises it to $77 from $73
    ** The new BofA price target represents a 12.7% upside to
the stock's last close
        ** "We are encouraged by the clear evidence of continued
demand as physicians have grown more confident with the
risk/benefit profile of Syfovre" - BofA
  
    ** Syfovre is used to treat geographic atrophy, a chronic
disease that leads to progressive and irreversible vision loss
    ** 13 of 17 brokerages rate the stock "buy" or higher, 4
"hold"; their median PT is $70 - LSEG data
    ** Stock was up 15.8% in 2023

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))