Apellis price target raised to $31 from $30 at Scotiabank

Scotiabank raised the firm’s price target on Apellis (APLS) to $31 from $30 and keeps a Sector Perform rating on the shares. The company recently announced FDA acceptance of its supplementary new drug application for Empaveli and was granted Priority Review designation for treatment of C3 glomerulopathy and primary immune complex membranoproliferative glomerulonephritis, the analyst tells investors. The company anticipates launching in 2H25 and expects the drug’s broad efficacy profile to support robust uptake despite the recent entry of a competitor, the firm adds.

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