Oppenheimer analyst Justin Kim raised the firm’s price target on Apellis to $79 from $75 and keeps an Outperform rating on the shares. Despite the hangover from M&A fervor and the recent negative CHMP opinion for Syfovre, the firm is bullish on the outlook for Apellis and a focus on Syfovre launch dynamics into 2024. In many ways an execution year, 2024 is showing potential to be marked by strong, steady and continuing growth for Syfovre, and Oppenheimer raises its estimates for the full year in anticipation.
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