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:
- Apellis should be bought on selloff from Iveric deal, says Citi
- Apellis Pharmaceuticals to Host Conference Call on May 4, 2023, to Discuss First Quarter 2023 Financial Results
- Apellis’s Pegcetacoplan receives FDA orphan designation
- Apellis Pharmaceuticals call volume above normal and directionally bullish
- Apellis presents Phase 3 functional analyses of SYFOVRE for geographic atrophy