UBS raised the firm’s price target on Apellis to $87 from $70 and keeps a Buy rating on the shares. The price target increase reflects the latest Geographic Atrophy sales trends and what the firm views as a lifting of a safety overhang, and UBS sees upside to current consensus numbers, the analyst tells investors in a research note. The firm also sees additional potential upside around Phase 3 C3G/IC-MPGN data expected in the third quarter.
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