Citi Keeps Buy Rating on Apellis Pharmaceuticals (APLS), Comments on Premarket Selloff

Citi analyst Yigal Nochomovitz reiterated a Buy rating and $106.00 price target on Apellis Pharmaceuticals (NASDAQ: APLS)

The analyst comments "The stock is down substantially this AM following an ASRS member notification yesterday regarding a small number of events of intraocular inflammation (IOI, exact number not specified) with retinal vasculitis (6 cases) following treatment with Syfovre. Overall, the rate of these events has been very rare at about 1 in 10,000 injections (~0.01% per injection). Note there were no cases of vasculitis in DERBY & OAKS and there have been no cases thus far in the GALE extension study (reflecting >20,000 injections the Phase 3 program overall). We are collecting more information about these cases of IOI / vasculitis events and will be able to provide more color once we have connected with mgmt."

For an analyst ratings summary and ratings history on Apellis Pharmaceuticals click here. For more ratings news on Apellis Pharmaceuticals click here.

Shares of Apellis Pharmaceuticals closed at $84.50 yesterday.

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