Wells Fargo analyst Derek Archila thinks shares of Apellis Pharmaceuticals (APLS) could be up 20% on Syfovre’s early approval. However, the news was largely priced in and the rally "might fade," the analyst tells investors in a research note. Wells remains cautious on the shares in the near term on potential for Iveric bio’s (ISEE) Zimura to also gain a broad geographic atrophy label and for a slow launch. It keeps an Equal Weight rating on Apellis with a $58 price target.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on APLS:
- Iveric now has ‘clearer path towards approval,’ says BofA
- FDA Approves SYFOVRE™ (pegcetacoplan injection) as the First and Only Treatment for Geographic Atrophy (GA), a Leading Cause of Blindness
- Apellis says FDA approves SYFOVRE for GA treatment
- Apellis’ Syfovre new drug application approved by FDA
- Apellis Pharmaceuticals Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue