Oppenheimer lowered the firm’s price target on Apellis (APLS) to $40 from $65 and keeps an Outperform rating on the shares. The firm notes the company reported Q3 topline of $196.8M, missing both its estimate of $202.2M and Street’s estimate of $201M, due to higher G/N adjustments and lower Syfovre vials vs. oits estimate.
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