Analysts Set Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Target Price at $49.94

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) have received a consensus rating of “Moderate Buy” from the twenty brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $49.94.

Several research firms have recently weighed in on APLS. HC Wainwright lowered their price objective on Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Scotiabank dropped their price target on Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $25.00 price objective on shares of Apellis Pharmaceuticals in a research note on Monday, November 4th. Needham & Company LLC decreased their price target on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Citigroup dropped their price objective on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th.

Apellis Pharmaceuticals Stock Performance

NASDAQ:APLS opened at $34.14 on Tuesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. Apellis Pharmaceuticals has a fifty-two week low of $24.34 and a fifty-two week high of $73.80. The company has a 50 day simple moving average of $28.74 and a two-hundred day simple moving average of $35.41. The company has a market capitalization of $4.25 billion, a PE ratio of -16.82 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data 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 firm had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The company’s quarterly revenue was up 78.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.17) earnings per share. Research analysts anticipate that Apellis Pharmaceuticals will post -1.71 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 on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $3,623,000. The trade was a 27.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APLS. Envestnet Asset Management Inc. lifted its holdings in Apellis Pharmaceuticals by 42.2% during the second quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock worth $5,161,000 after acquiring an additional 39,931 shares during the period. Profund Advisors LLC raised its stake 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 worth $1,648,000 after purchasing an additional 20,435 shares during the period. Algert Global LLC boosted its holdings in shares of Apellis Pharmaceuticals by 137.8% in the 2nd quarter. Algert Global LLC now owns 123,628 shares of the company’s stock worth $4,742,000 after buying an additional 71,650 shares during the last quarter. Toronto Dominion Bank bought a new position in Apellis Pharmaceuticals during the first quarter valued at about $588,000. Finally, Edgestream Partners L.P. increased its holdings in Apellis Pharmaceuticals by 240.4% during the second 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. 96.29% of the stock is currently 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).