JP Morgan Downgrades Apellis Pharmaceuticals to Neutral, Lowers Price Target to $60
Portfolio Pulse from richadhand@benzinga.com
JP Morgan analyst Anupam Rama has downgraded Apellis Pharmaceuticals from Overweight to Neutral and lowered the price target from $72 to $60.
August 04, 2023 | 12:42 pm
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NEGATIVE IMPACT
Apellis Pharmaceuticals has been downgraded by JP Morgan from Overweight to Neutral, with a reduced price target of $60.
The downgrade from JP Morgan, a major financial institution, could negatively impact investor sentiment towards Apellis Pharmaceuticals. The lowered price target suggests that JP Morgan expects the stock's future performance to be less robust than previously anticipated.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100