Scotiabank analyst Greg Harrison lowered the firm’s price target on Apellis (APLS) to $20 from $28 and keeps a Sector Perform rating on the shares. The company had a weak Q1, with Syfovre revenues in geographic atrophy missing expectations due to underfunding of retinal therapeutics co-pay assistance programs and inventory draw down, the analyst tells investors. The firm is lowering its price target on the stock to reflect its updated expectations for Syfovre sales.
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