BofA raised the firm’s price target on Apellis to $44 from $43 and keeps a Neutral rating on the shares after the company announced preliminary Syfovre Q3 revenue of about $74M, which was ahead of the consensus expectation of $54M. While “encouraged” by the update showing continued demand for Syfovre and low ORV rates, the firm awaits more color on the impact of the launch of competing drug Izervay over the coming months, the analyst tells investors.
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