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Thursday, March 28, 2019

Apellis initiated at Baird

Apellis initiated with an Outperform at Baird. Baird analyst Madhu Kumar initiated Apellis with an Outperform rating and a price target of $45. The analyst says the company’s lead asset, complement C3 inhibitor APL-2, has the “potential to disrupt multiple diseases, including the ophthalmologic market of geographic atrophy and orphan disease market of paroxysmal nocturnal hemoglobinuria”. Kumar sees Apellis’ top-line data from the Phase 3 PEGASUS trial in paroxysmal nocturnal hemoglobinuria as a “key near-term catalyst” for its shares.

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