JPMorgan upgraded Apellis to Overweight from Neutral with a price target of $81, up from $60. The the Q3 Syfovre beat underscores a return to growth for the product, even in the face of retinal vasculitis headwinds from the summer, the analyst tells investors in a research note. The firm sees improving Syfovre fundamentals “steadily shifting” investor sentiment heading into 2024 and being an upside driver for the shares.
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