Apellis price target raised to $139 from $123 at Raymond James

Raymond James analyst Steven Seedhouse raised the firm’s price target on Apellis to $139 from $123 and keeps a Strong Buy rating on the shares. Syfovre’s label affords many commercial tailwinds, including a large indicated GA population, its first mover advantage, the flexible dosing range in 25-60- day intervals, and clean safety, the analyst tells investors in a research note. Syfovre will be commercially available in March but Apellis expects meaningful uptake to occur after the permanent J code goes into effect this October, Raymond James says.