Jefferies notes that Apellis shares are down today due to comments on the FDA having released updated FAERS data as of March 31, but the firm’s view on retinal vasculitis cases remains unchanged, as it had noted last week after its database update. The firm, which notes the two deaths in the FAERS data were not related to Syfovre and said regarding RV cases that only four of them actually occurred in Q1, also advises that investors “keep in mind cases reported by the FDA are not adjudicated.” Jefferies has a Buy rating and $80 price target on Apellis, which is down $3.15, or nearly 7%, to $44.69 in afternoon trading.
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