Apellis Pharmaceuticals shares are trading higher after Wedbush maintained a Neutral rating on the stock and raised its price target from $39 to $60.
Portfolio Pulse from Benzinga Newsdesk
Apellis Pharmaceuticals' stock (APLS) is trading higher following an update from Wedbush, which maintained a Neutral rating but increased the price target from $39 to $60.
January 12, 2024 | 7:50 pm
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POSITIVE IMPACT
Wedbush maintained a Neutral rating on Apellis Pharmaceuticals but raised the price target from $39 to $60, leading to a higher trading price for APLS shares.
The increase in the price target by Wedbush is a positive signal to investors, suggesting a potential undervaluation at the previous target. Although the rating remains Neutral, the significant raise in the target price is likely to be interpreted as a bullish sign, potentially leading to short-term price appreciation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100