03:35 PM EDT, 09/20/2024 (MT Newswires) -- Health care stocks were declining late Friday afternoon, with the NYSE Health Care Index down 0.8% and the Health Care Select Sector SPDR Fund (XLV) shedding 0.4%.

The iShares Biotechnology ETF (IBB) fell 1.1%.

In corporate news, Apellis Pharmaceuticals ( APLS ) is unlikely to see a significant boost in sales, Wedbush said Friday, after the drugmaker's bid to win marketing approval in Europe for its Syfovre medication was again stymied. Wedbush cut the company's price target to $35 from $41 and reiterated the neutral rating. Apellis shares tumbled past 13%.