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Apellis price target lowered to $47 from $55 at Baird

Baird analyst Colleen Kusy lowered the firm’s price target on Apellis (APLS) to $47 from $55 and keeps an Outperform rating on the shares. The firm updated its model following Q1 results and the bigger than expected Syfore miss. However, its market share gain is encouraging.

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