Apellis Pharmaceuticals ( (APLS) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Apellis Pharmaceuticals recently saw a stock movement influenced by several key developments. The approval of SYFOVRE by Australia’s Therapeutic Goods Administration for geographic atrophy, the first of its kind in Australia, together with robust preliminary U.S. product revenue projections for 2024, has created positive market sentiment. RBC Capital responded by raising its price target, highlighting strong sales and market potential. Meanwhile, JPMorgan pointed to the competitive advantage SYFOVRE might hold over rivals. Despite these positive signals, Goldman Sachs downgraded its price target to Neutral, indicating a more cautious analyst outlook.
More about Apellis Pharmaceuticals
YTD Price Performance: -14.02%
Average Trading Volume: 2,620,197
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.55B
For further insights into APLS stock on TipRanks’ Stock Analysis page.
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