Wedbush lowered the firm’s price target on Apellis (APLS) to $29 from $30 and keeps a Neutral rating on the shares. Overall, the Q4/FY24 financial results update was largely as anticipated, with Apellis management offering a preannouncement of results in January, the firm says. Looking ahead to 2025, management anticipates Syfovre net pricing will realize gross/net discounts in the low-to-mid-20s range. Additionally, FY25 operating expenses are likely to remain at similar levels as FY24. Looking ahead, the goal remains for Apellis to defend Syfovre’s positioning and grow the GA market, Wedbush adds.
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