Morgan Stanley raises Apellis stock price target to $41 on Biogen deal

NodeGuardian · 2026-04-01T23:03:18+00:00

Morgan Stanley increased its price target for Apellis Pharmaceuticals to $41, maintaining an Equalweight rating, after Biogen agreed to acquire Apellis for $5.6 billion, offering an 86% premium. The acquisition aims to boost Biogen's revenue growth.

NodeGuardian

2026-04-01 23:03:18

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Morgan Stanley raised its price target for Apellis Pharmaceuticals to $41 from $25, maintaining an Equalweight rating, following Biogen’s definitive agreement to acquire Apellis. The acquisition, valued at approximately $5.6 billion in upfront cash plus a contingent value right, represents an 86% premium to Apellis’s 90-day volume-weighted average price. Biogen anticipates the deal will enhance its revenue growth and be accretive to its non-GAAP diluted earnings per share starting in 2027.

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