Wells Fargo raised the firm’s price target on Apellis (APLS) to $29 from $26 and keeps an Equal Weight rating on the shares. The firm thinks Street’s early estimates for the pegcetacoplan’s launch in C3G/IC-MPGN may be conservative. That said, Wells awaits approval on the June 28 PDUFA and base biz stability before considering getting more constructive.
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