Citi lowered the firm’s price target on Apellis (APLS) to $41 from $49 and keeps a Buy rating on the shares following the Q1 report. The firm cut the price target to reflect a more gradual long-term ramp for Syfovre and Empaveli following the earnings report. Citi says its bull thesis is anchored on Empaveli’s expected approval on or by July 28. It recommends adding to positions at current share levels.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APLS:
- Apellis price target lowered to $20 from $30 at Mizuho
- Buy Recommendation for Apellis Pharmaceuticals Driven by Syfovre’s Market Potential and Strategic Expansion
- Qualcomm initiated, Lyft upgraded: Wall Street’s top analyst calls
- Apellis downgraded to Neutral from Buy at BofA
- Apellis downgraded to Outperform from Strong Buy at Raymond James