Apellis Pharmaceuticals (NASDAQ:APLS) Given New $32.00 Price Target at Piper Sandler

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective trimmed by Piper Sandler from $40.00 to $32.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Bank of America reduced their price target on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday. Mizuho cut their price objective on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Wedbush increased their target price on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. UBS Group dropped their price target on Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, William Blair initiated coverage on Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.24.

Apellis Pharmaceuticals Price Performance

Shares of APLS stock 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. Apellis Pharmaceuticals has a fifty-two week low of $24.34 and a fifty-two week high of $73.80. The firm has a market cap of $3.51 billion, a P/E ratio of -10.52 and a beta of 0.87. The business’s 50 day moving average price is $31.39 and its 200-day moving average price is $37.20.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The company had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The business’s revenue was up 78.3% on a year-over-year basis. During the same quarter last year, the firm earned ($1.17) EPS. On average, equities research analysts anticipate that Apellis Pharmaceuticals will post -1.4 earnings per share for the current year.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction dated 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 of the company’s stock, valued at approximately $3,623,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Apellis Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its stake in shares of Apellis Pharmaceuticals by 191.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock worth $61,845,000 after purchasing an additional 1,409,707 shares during the last quarter. Iron Triangle Partners LP bought a new stake in Apellis Pharmaceuticals in the 1st quarter worth about $32,329,000. Fiera Capital Corp raised its position in Apellis Pharmaceuticals by 47.7% in the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock worth $53,750,000 after buying an additional 452,753 shares during the last quarter. AQR Capital Management LLC raised its position in Apellis Pharmaceuticals by 337.3% in the 2nd quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock worth $9,177,000 after buying an additional 190,420 shares during the last quarter. Finally, Redmile Group LLC bought a new position in Apellis Pharmaceuticals during the 1st quarter valued at about $9,111,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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).