tiprankstipranks
Apellis rally on approval ‘might fade,’ says Wells Fargo
The Fly

Apellis rally on approval ‘might fade,’ says Wells Fargo

Wells Fargo analyst Derek Archila thinks shares of Apellis Pharmaceuticals (APLS) could be up 20% on Syfovre’s early approval. However, the news was largely priced in and the rally "might fade," the analyst tells investors in a research note. Wells remains cautious on the shares in the near term on potential for Iveric bio’s (ISEE) Zimura to also gain a broad geographic atrophy label and for a slow launch. It keeps an Equal Weight rating on Apellis with a $58 price target.

Published first on TheFly

See Insiders’ Hot Stocks on TipRanks >>

Read More on APLS:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles