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Apellis price target lowered to $26 from $30 at Wells Fargo

Wells Fargo lowered the firm’s price target on Apellis (APLS) to $26 from $30 and keeps an Equal Weight rating on the shares. While Empa’s renal opportunities remain attractive, the firm remains on the sidelines until it sees Syfovre’s revenue outlook stabilize and gets more confident on Apellis’ ability to fund itself to profitability.

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