Baird analyst Colleen Kusy lowered the firm’s price target on Apellis to $86 from $100 and keeps an Outperform rating on the shares. The firm said there is plenty of noise heading into the 2Q24 Apellis print on 8/1 on the impact of the Izervay J-code and the overall size/interest of the GA market. Based on negative recent sentiment and channel checks, they are moderating quarter-over-quarter growth expectations and lowering its 2Q24 Syfovre estimate.
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