Apellis price target raised to $26 from $24 at RBC Capital

RBC Capital raised the firm’s price target on Apellis (APLS) to $26 from $24 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q4 and 2025 earnings in the Biotech sector. Q4 should should come in generally solid across the firm’s large and mid-cap commercial stage companies, helped by seasonal tailwinds, though 2025 expectations may be seeing more optimism than necessarily warranted with a number of launches already baked into numbers and durability of certain core franchises that could challenge certain setups, the analyst tells investors in a research note.