Apellis price target raised to $84 from $77 at BofA

BofA analyst Tazeen Ahmad raised the firm’s price target on Apellis to $84 from $77 and keeps a Buy rating on the shares after the company reported Q4 results and highlighted the strong performance of the Syfovre launch despite headwinds in 2023. Management commented that despite seeing some seasonality in Q1, January and February were the two of strongest months since the launch and they continue to see strong demand heading into March, notes the analyst, who remains encouraged by the strong commercial performance of Syfovre in the U.S.