Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $43.00 by Analysts at Wells Fargo & Company

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective lowered by Wells Fargo & Company from $47.00 to $43.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on APLS. Jefferies Financial Group reaffirmed a buy rating and set a $80.00 target price on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. JPMorgan Chase & Co. cut their target price on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an overweight rating for the company in a research report on Friday, September 13th. Needham & Company LLC restated a buy rating and set a $85.00 price target on shares of Apellis Pharmaceuticals in a report on Friday, September 20th. Mizuho cut their price objective on Apellis Pharmaceuticals from $42.00 to $39.00 and set a neutral rating for the company in a report on Friday, September 20th. Finally, Robert W. Baird lowered their target price on Apellis Pharmaceuticals from $96.00 to $92.00 and set an outperform rating on the stock in a research note on Monday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apellis Pharmaceuticals currently has a consensus rating of Moderate Buy and a consensus target price of $70.20.

Apellis Pharmaceuticals Stock Performance

APLS opened at $30.75 on Tuesday. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. The firm has a market cap of $3.73 billion, a PE ratio of -8.89 and a beta of 0.88. The business has a fifty day simple moving average of $37.52 and a 200-day simple moving average of $43.10. Apellis Pharmaceuticals has a fifty-two week low of $30.74 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 return on equity of 138.32% and a negative net margin of 52.99%. The firm had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $190.89 million. During the same quarter last year, the business posted ($1.02) EPS. Apellis Pharmaceuticals’s revenue was up 110.2% on a year-over-year basis. As a group, equities analysts predict that Apellis Pharmaceuticals will post -1.29 EPS 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 that occurred 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. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. HighVista Strategies LLC boosted its position in shares of Apellis Pharmaceuticals by 4.1% in the second quarter. HighVista Strategies LLC now owns 7,566 shares of the company’s stock valued at $290,000 after acquiring an additional 300 shares during the period. Amalgamated Bank boosted its holdings in Apellis Pharmaceuticals by 5.4% in the 2nd 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 period. Simplicity Wealth LLC grew its position in Apellis Pharmaceuticals by 0.6% in the 2nd quarter. Simplicity Wealth LLC now owns 78,746 shares of the company’s stock worth $3,021,000 after purchasing an additional 499 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Apellis Pharmaceuticals during the 1st quarter worth about $29,000. Finally, Oppenheimer Asset Management Inc. increased its holdings 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 during the period. 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).