Goldman Sachs downgraded Apellis (APLS) to Sell from Neutral with a price target of $18, down from $26. The firm sees longer-term growth for Syfovre in geographic atrophy but potential risks to the near-term outlook. Goldman models peak sales of $1.1B in 2030, below the consensus estimate of $1.3B, the analyst tells investors in a research note. The firm also notes an absence of near-term catalysts as potential drivers of share upside for Apellis.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APLS:
- Short Report: Kohls, Krispy Kreme shorts cover as meme stock fever breaks
- Hold Rating for Apellis Pharmaceuticals’ Empaveli Amid Market Challenges and Physician Preferences
- Apellis Pharmaceuticals’ Earnings Call: A Balanced Outlook
- Apellis price target raised to $37 from $35 at JPMorgan
- Apellis price target raised to $40 from $39 at Cantor Fitzgerald