BofA lowered the firm’s price target on Apellis (APLS) to $27 from $29 and keeps a Neutral rating on the shares after the company reported Q3 results. Commentary on Empaveli segment contribution suggests roughly $6M in renal indication revenues, and the company noted a bolus of 152 start forms in Q3, the analyst tells investors in a research note. The firm added that it thinks clear indications of stronger-than-expected uptake in C3G and IC-MPGN in upcoming quarters could provide potential upside to estimates.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APLS:
- Apellis falls -24.8%
- Midday Fly By: Big Tech reports, Novo tops Pfizer bid for Metsera
- Apellis falls -19.3%
- Buy Rating for Apellis Pharmaceuticals Driven by Strong Financial Performance and Promising Product Developments
- Positive Outlook for Apellis Pharmaceuticals: Strong Performance and Strategic Positioning Support Buy Rating