Wells Fargo lowered the firm’s price target on Apellis (APLS) to $26 from $29 and keeps an Overweight rating on the shares. Empa’s C3G/IC-MPGN ramp is slower than expected, and the firm is cutting its 2026-2030 estimates by 20%-50% to shallow its ramp. No material change to Wells’ Syfovre estimates, as the PFS launch will be a show-me story.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APLS:
- Apellis Pharmaceuticals: European Aspaveli Validation and Growing U.S. C3G/IC-MPGN Traction Underpin Buy Rating
- Apellis price target raised to $28 from $27 at BofA
- Apellis price target lowered to $35 from $39 at Cantor Fitzgerald
- Apellis Pharmaceuticals: Syfovre and Empaveli Outperformance Plus Pipeline Upside Support Undervalued Buy Rating and $45 Target
- Apellis Pharmaceuticals: Durable Growth Outlook and Multiple 2025–2026 Catalysts Support Buy Rating