Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $39.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price decreased by equities researchers at Mizuho from $42.00 to $39.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s target price would suggest a potential upside of 19.96% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Piper Sandler started coverage on Apellis Pharmaceuticals in a research report on Friday, May 31st. They set a “neutral” rating and a $46.00 price target on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price target on shares of Apellis Pharmaceuticals in a report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Finally, Robert W. Baird boosted their target price on shares of Apellis Pharmaceuticals from $86.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apellis Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $70.80.

Apellis Pharmaceuticals Stock Performance

APLS stock opened at $32.51 on Friday. The company has a 50-day simple moving average of $37.87 and a 200 day simple moving average of $43.65. The company has a market capitalization of $3.95 billion, a P/E ratio of -9.40 and a beta of 0.88. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. Apellis Pharmaceuticals has a fifty-two week low of $31.00 and a fifty-two week high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The company had revenue of $199.70 million during the quarter, compared to analyst estimates of $190.89 million. During the same period in the prior year, the business posted ($1.02) EPS. The business’s revenue for the quarter was up 110.2% compared to the same quarter last year. Sell-side analysts predict that Apellis Pharmaceuticals will post -1.29 earnings per share for the current fiscal year.

Insider Activity

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the sale, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. HighVista Strategies LLC boosted its stake in shares of Apellis Pharmaceuticals by 4.1% during the 2nd quarter. HighVista Strategies LLC now owns 7,566 shares of the company’s stock valued at $290,000 after buying an additional 300 shares during the period. Amalgamated Bank boosted its position in Apellis Pharmaceuticals by 5.4% during the second quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock valued at $268,000 after purchasing an additional 359 shares during the last quarter. Simplicity Wealth LLC grew its stake in Apellis Pharmaceuticals by 0.6% in the second 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 in the last quarter. Future Financial Wealth Managment LLC acquired a new position in Apellis Pharmaceuticals in the 1st quarter worth about $29,000. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Apellis Pharmaceuticals by 8.3% during 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 in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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).