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.
Published first on TheFly
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