BofA raised the firm’s price target on Apellis to $46 from $44 and keeps a Neutral rating on the shares after having surveyed 25 physicians – who treat over 12,000 GA patients and have administered Syfovre to 1,432 patients – following the 24-month data update for Izervay on September 18, but prior to the October 5 update. Near-term expectations continue to show “modest uptake,” with physicians expecting 12% and 17% of their GA patients will be on Syfovre in six and 24 months, respectively, the analyst tells investors.
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