Apellis price target lowered to $57 from $83 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Apellis (APLS) to $57 from $83 and keeps a Buy rating on the shares post the Q3 report. The firm says the geographic atrophy market is seeing a slowdown though Syfovre appears to solidify its competitive positioning. The analyst continues see Syfovre becoming a blockbuster and given the slowdown in sales and pullback in Apellis valuation, it believes the company “will catch the attention of potential strategic buyers.”