tiprankstipranks
Optics of Iveric deal may pressure Apellis near-term, says Baird
The Fly

Optics of Iveric deal may pressure Apellis near-term, says Baird

Baird analyst Colleen Kusy expects some pressure on Apellis Pharmaceuticals (APLS) shares in the the near-term following the takeout of its competitor Iveric bio (ISEE) by Astellas Pharma. While deal making in geographic atrophy should be a good thing, given the lower valuation and the buyer’s lack of leadership in ophthalmology, the read-through is mixed to Apellis, the analyst tells investors in a research note. The firm expects the optics may pressure Apellis shares in the near term, but thinks there is still reason for Apellis to be valued at a premium. It keeps an Outperform rating on the name.

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