Wells Fargo & Company Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $30.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price decreased by Wells Fargo & Company from $43.00 to $30.00 in a research report report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research analysts also recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday, July 31st. Needham & Company LLC decreased their price objective on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday. Bank of America dropped their target price on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday. HC Wainwright decreased their price target on Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Oppenheimer cut their price objective on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Apellis Pharmaceuticals Stock Up 4.3 %

Shares of APLS stock opened at $29.98 on Wednesday. The firm has a fifty day moving average of $31.02 and a 200-day moving average of $37.02. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of -10.94 and a beta of 0.87. 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 12-month low of $24.34 and a 12-month high of $73.80.

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 analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same period last year, the company earned ($1.17) EPS. The company’s revenue was up 78.3% compared to the same quarter last year. As a group, equities research analysts predict that Apellis Pharmaceuticals will post -1.4 earnings per share for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the transaction, the director now owns 100,000 shares in the company, valued at $3,623,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of hedge funds have recently bought and sold shares of APLS. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Apellis Pharmaceuticals during the 1st quarter worth approximately $3,218,000. Edgestream Partners L.P. bought a new position in Apellis Pharmaceuticals during the 1st quarter worth $942,000. Envestnet Asset Management Inc. raised its holdings in Apellis Pharmaceuticals by 42.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock valued at $5,161,000 after acquiring an additional 39,931 shares in the last quarter. Profund Advisors LLC lifted its position in shares of Apellis Pharmaceuticals by 90.7% during the 2nd quarter. Profund Advisors LLC now owns 42,968 shares of the company’s stock valued at $1,648,000 after acquiring an additional 20,435 shares during the period. Finally, Algert Global LLC lifted its position in shares of Apellis Pharmaceuticals by 137.8% during the 2nd quarter. Algert Global LLC now owns 123,628 shares of the company’s stock valued at $4,742,000 after acquiring an additional 71,650 shares during the period. 96.29% of the stock is owned by 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).