Apellis price target lowered to $82 from $100 at H.C. Wainwright

H.C. Wainwright analyst Douglas Tsao lowered the firm’s price target on Apellis Pharmaceuticals to $82 from $100 and keeps a Buy rating on the shares. The warning issued by the American Society of Retina Specialists regarding cases of retinal vasculitis following drug administration has disrupted uptake of Syfovre, as physicians “pump the brakes” on administering the drug while they await for additional information on what is causing these events, the analyst tells investors in a research note. The firm says that while a slowdown appears inevitable, retina specialists and key opinion leaders remain supportive in wake of the alert.