Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Receives $46.65 Average Target Price from Analysts

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) have been assigned an average recommendation of “Moderate Buy” from the nineteen brokerages that are covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $46.71.

A number of research firms have recently weighed in on APLS. Mizuho cut their price target on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Oppenheimer cut their target price on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Scotiabank decreased their target price on Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Piper Sandler cut their price target on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, Morgan Stanley began coverage on shares of Apellis Pharmaceuticals in a report on Thursday, November 21st. They set an “equal weight” rating and a $31.00 price objective for the company.

Insider Transactions at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, insider Caroline Baumal sold 2,816 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $33.81, for a total value of $95,208.96. Following the sale, the insider now owns 55,560 shares in the company, valued at approximately $1,878,483.60. The trade was a 4.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Eugene Sullivan sold 1,730 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $29.96, for a total transaction of $51,830.80. Following the transaction, the chief financial officer now directly owns 86,370 shares of the company’s stock, valued at $2,587,645.20. This represents a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,106 shares of company stock valued at $894,834 over the last three months. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in APLS. State of New Jersey Common Pension Fund D raised its stake in shares of Apellis Pharmaceuticals by 6.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 45,241 shares of the company’s stock worth $1,735,000 after purchasing an additional 2,820 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Apellis Pharmaceuticals by 46.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 12,754 shares of the company’s stock valued at $489,000 after purchasing an additional 4,060 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Apellis Pharmaceuticals by 42.2% in the second quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock valued at $5,161,000 after purchasing an additional 39,931 shares during the period. Edgestream Partners L.P. lifted its stake in shares of Apellis Pharmaceuticals by 240.4% during the 2nd quarter. Edgestream Partners L.P. now owns 54,572 shares of the company’s stock worth $2,093,000 after buying an additional 38,541 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its holdings in shares of Apellis Pharmaceuticals by 109.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 14,696 shares of the company’s stock worth $564,000 after buying an additional 7,664 shares during the period. 96.29% of the stock is owned by institutional investors.

Apellis Pharmaceuticals Price Performance

Shares of APLS stock opened at $30.13 on Wednesday. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of -14.84 and a beta of 0.94. Apellis Pharmaceuticals has a 12 month low of $24.34 and a 12 month high of $71.90. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The stock has a 50-day moving average price of $31.89 and a 200 day moving average price of $33.31.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The business had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same quarter in the prior year, the firm earned ($1.17) EPS. The firm’s quarterly revenue was up 78.3% compared to the same quarter last year. Research analysts expect that Apellis Pharmaceuticals will post -1.71 EPS for the current year.

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).