Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $57.00 by Analysts at HC Wainwright

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target reduced by HC Wainwright from $83.00 to $57.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on APLS. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Apellis Pharmaceuticals in a report on Friday, September 20th. JPMorgan Chase & Co. lowered their target price on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. UBS Group lowered their target price on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company lowered their target price on shares of Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 24th. Finally, Wedbush boosted their price objective on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.24.

Apellis Pharmaceuticals Trading Up 2.7 %

NASDAQ APLS opened at $28.83 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. The firm has a market cap of $3.51 billion, a PE ratio of -10.52 and a beta of 0.87. Apellis Pharmaceuticals has a one year low of $24.34 and a one year high of $73.80. The firm’s fifty day moving average is $31.39 and its two-hundred day moving average is $37.20.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The business had revenue of $196.83 million during the quarter, compared to analyst estimates of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The company’s revenue for the quarter was up 78.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.17) earnings per share. Analysts expect that Apellis Pharmaceuticals will post -1.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $3,623,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is owned by insiders.

Institutional Trading of Apellis Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. HighVista Strategies LLC raised its holdings in shares of Apellis Pharmaceuticals by 4.1% during the second quarter. HighVista Strategies LLC now owns 7,566 shares of the company’s stock worth $290,000 after purchasing an additional 300 shares during the period. Amalgamated Bank increased its holdings in shares of Apellis Pharmaceuticals by 5.4% in the 2nd quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock worth $268,000 after acquiring an additional 359 shares during the period. Simplicity Wealth LLC boosted its stake in Apellis Pharmaceuticals by 0.6% during the 2nd quarter. Simplicity Wealth LLC now owns 78,746 shares of the company’s stock valued at $3,021,000 after purchasing an additional 499 shares during the period. Oppenheimer Asset Management Inc. grew its position in Apellis Pharmaceuticals by 8.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,694 shares of the company’s stock worth $511,000 after purchasing an additional 664 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Apellis Pharmaceuticals by 34.8% in the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after purchasing an additional 679 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. It offers EMPAVELI for the treatment of paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy secondary to age-related macular degeneration and geographic atrophy (GA).