Jefferies upgraded Apellis Pharmaceutical to Buy from Hold with a price target of $80, up from $68. The analyst says recent Syfovre updates suggest fewer new vasculitis cases. Jefferies’ tracker suggests vasculitis rate has come down and it not as concerned about the competitive landscape after Izervay’s full two data, the analyst tells investors in a research note. The Syfovre launch is going well and the firm’s survey suggests doctors are getting more bullish on Syfovre’s commercial opportunity, says Jefferies.
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