H.C. Wainwright analyst Douglas Tsao downgraded Apellis (APLS) to Neutral from Buy with a price target of $41, down from $48, to reflect the pending acquisition by Biogen (BIIB).
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- Apellis: Hold Rating as Biogen Takeout Caps Upside and CVR Payouts Look Unlikely Under Conservative Syfovre Outlook
- Apellis downgraded to Neutral from Overweight at JPMorgan
- Apellis downgraded to Market Perform from Outperform at Raymond James
- Hold Rating on Apellis Reflects Biogen Takeover Cap on Upside and Limited Near-Term Catalysts
- Apellis Pharmaceuticals to be Acquired by Biogen in Merger