Citi raised the firm’s price target on Apellis to $54 from $45 and keeps a Buy rating on the shares. While the firm is inferring based on the timing of the company’s restructuring announcement that the company’s revised internal projections for the Syfovre launch are “significantly softer than initially forecast,” the reported vials shipped during the first three weeks of August “seems to suggest demand is holding up slightly better than we previously assumed,” the analyst tells investors.
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