Cantor Fitzgerald last night initiated coverage of Apellis (APLS) with an Overweight rating and $44 price target The shares have traded entirely based on continuous headwinds for the company’s lead drug Syfovre in geographic atrophy, the analyst tells investors in a research note. However, the firm believes Empaveli is a much better C3G drug than Fabhalta. There are several good studies establishing a relationship between proteinurea and kidney failure, contends Cantor.
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