Apellis Pharmaceuticals (NASDAQ:APLS) Given New $54.00 Price Target at JPMorgan Chase & Co.

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $50.00 to $54.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 118.89% from the stock’s previous close.

A number of other analysts have also weighed in on APLS. Bank of America reduced their target price on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reduced their price target on shares of Apellis Pharmaceuticals from $26.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Monday. Wedbush lowered their price objective on shares of Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday. Oppenheimer reduced their target price on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Morgan Stanley started coverage on Apellis Pharmaceuticals in a report on Thursday, November 21st. They issued an “equal weight” rating and a $31.00 price target for the company. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $45.53.

Apellis Pharmaceuticals Trading Up 2.5 %

Shares of APLS stock traded up $0.61 during trading hours on Tuesday, reaching $24.67. 526,287 shares of the stock were exchanged, compared to its average volume of 1,919,442. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals has a 12-month low of $23.81 and a 12-month high of $66.00. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of -12.15 and a beta of 0.96. The company’s 50-day moving average price is $29.70 and its 200-day moving average price is $31.39.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Friday, February 28th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The firm had revenue of $212.50 million for the quarter, compared to analysts’ expectations of $197.92 million. During the same quarter in the prior year, the firm posted ($0.73) earnings per share. The company’s quarterly revenue was up 45.2% on a year-over-year basis. As a group, equities analysts anticipate that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Transactions at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, CFO Timothy Eugene Sullivan sold 2,170 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $28.70, for a total transaction of $62,279.00. Following the sale, the chief financial officer now owns 88,100 shares of the company’s stock, valued at approximately $2,528,470. The trade was a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO James George Chopas sold 1,096 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total transaction of $33,351.28. Following the transaction, the chief accounting officer now owns 48,138 shares in the company, valued at $1,464,839.34. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,365 shares of company stock valued at $1,810,479 in the last 90 days. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Toronto Dominion Bank lifted its position in Apellis Pharmaceuticals by 3,791.4% during the 4th quarter. Toronto Dominion Bank now owns 997,053 shares of the company’s stock worth $31,816,000 after acquiring an additional 971,431 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Apellis Pharmaceuticals during the fourth quarter worth about $83,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Apellis Pharmaceuticals by 11.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 212,887 shares of the company’s stock valued at $6,793,000 after buying an additional 21,822 shares during the last quarter. Woodline Partners LP increased its holdings in Apellis Pharmaceuticals by 0.5% in the 4th quarter. Woodline Partners LP now owns 189,477 shares of the company’s stock worth $6,046,000 after buying an additional 913 shares during the period. Finally, Vident Advisory LLC purchased a new position in Apellis Pharmaceuticals during the 4th quarter worth approximately $465,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

Apellis Pharmaceuticals Company Profile

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).