B of A Securities Downgrades Apellis Pharmaceuticals to Neutral, Lowers Price Target to $40
Portfolio Pulse from richadhand@benzinga.com
B of A Securities analyst Brian Cheng has downgraded Apellis Pharmaceuticals from Buy to Neutral and lowered the price target from $114 to $40.
August 01, 2023 | 10:28 am
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Apellis Pharmaceuticals has been downgraded from Buy to Neutral by B of A Securities, with a lowered price target from $114 to $40.
The downgrade from Buy to Neutral by B of A Securities indicates a less optimistic outlook for Apellis Pharmaceuticals. The significant reduction in the price target from $114 to $40 suggests that the analyst believes the stock is overvalued at its current price. This could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100