Apellis price target raised to $41 from $21 at RBC Capital

RBC Capital analyst Lisa Walter raised the firm’s price target on Apellis (APLS) to $41 from $21 and keeps a Sector Perform rating on the shares as part of the firm’s broader research note previewing Q1 results in Biotech. Seasonal headwinds around gross/net, reimbursement resets, and fewer selling days may be exacerbated in Q1 by weather impact, particularly for launching and in-clinic products, but the robust return of M&A, coupled with clarity on limited tariff/Most Favored Nation drug pricing impacts, could help offset both this and broader macro volatility while keeping sector perceptions favorable, the analyst tells investors in a research note.