Morgan Stanley raised the firm’s price target on Apellis (APLS) to $26 from $25 and keeps an Equal Weight rating on the shares. The royalty purchase agreement with Sobi bolsters Apellis’ cash position, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APLS:
- Cautious Optimism: Apellis Pharmaceuticals’ Strategic Moves and Market Uncertainties Justify Hold Rating
- Strategic Financial Maneuvers and Market Opportunities Drive Buy Rating for Apellis Pharmaceuticals
- Apellis Pharmaceuticals Secures $275M Royalty Buy-Down Deal
- Apellis to receive up to $300M from royalty purchase agreement with Sobi
- Apellis Pharmaceuticals’ Phase 3 Study Update: Long-Term Efficacy of Pegcetacoplan