Wells Fargo analyst Derek Archila added Apellis to the firm’s Q4 2023 Tactical Ideas List. The firm likes the risk/reward over the next 6-9 months as it expects stabilizing RV cases at the update in mid-October to alleviate concerns about Syfovre’s safety. It also looks on track to beat Q3 consensus estimates and thinks both FY23/FY24 estimates will need to come up. Wells has an Overweight rating on the shares with a price target of $64.
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