Mizuho lowered the firm’s price target on Apellis (APLS) to $20 from $30 and keeps a Neutral rating on the shares. The firm reduced its view for the company’s lead asset Syfovre for geographic atrophy. Due to several factors, including lingering safety questions, potentially stalling growth for the class, and the negative impact from recent changes to patient co-pay assistance programs, Mizuho now envisions “persistent challenges” for Syfovre’s uptake.
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