Apellis Pharmaceuticals (NASDAQ:APLS) Shares Gap Down to $41.52

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)’s share price gapped down before the market opened on Friday . The stock had previously closed at $41.52, but opened at $39.52. Apellis Pharmaceuticals shares last traded at $38.26, with a volume of 222,397 shares.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wedbush reduced their price target on Apellis Pharmaceuticals from $67.00 to $57.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. JPMorgan Chase & Co. increased their target price on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday, May 8th. Mizuho cut their target price on Apellis Pharmaceuticals from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Finally, Citigroup cut their target price on Apellis Pharmaceuticals from $67.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.56.

Apellis Pharmaceuticals Trading Down 7.6 %

The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of -11.09 and a beta of 0.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.02 and a current ratio of 3.77. The firm has a fifty day moving average of $42.60 and a 200-day moving average of $54.77.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Tuesday, May 7th. The company reported ($0.54) earnings per share for the quarter, meeting the consensus estimate of ($0.54). The company had revenue of $172.33 million during the quarter, compared to the consensus estimate of $163.37 million. Apellis Pharmaceuticals had a negative return on equity of 160.77% and a negative net margin of 79.67%. The company’s revenue was up 284.3% on a year-over-year basis. During the same period last year, the firm earned ($1.56) earnings per share. As a group, equities analysts predict that Apellis Pharmaceuticals, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Timothy Eugene Sullivan sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $58.66, for a total transaction of $234,640.00. Following the completion of the sale, the chief financial officer now directly owns 93,338 shares in the company, valued at $5,475,207.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Timothy Eugene Sullivan sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $58.66, for a total transaction of $234,640.00. Following the completion of the sale, the chief financial officer now directly owns 93,338 shares in the company, valued at $5,475,207.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $39.24, for a total value of $1,451,880.00. Following the completion of the transaction, the director now owns 136,998 shares of the company’s stock, valued at $5,375,801.52. The disclosure for this sale can be found here. Insiders sold 189,014 shares of company stock worth $8,771,758 over the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in Apellis Pharmaceuticals in the first quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Apellis Pharmaceuticals in the first quarter worth about $89,000. CWA Asset Management Group LLC acquired a new position in Apellis Pharmaceuticals in the fourth quarter worth about $205,000. Woodward Diversified Capital LLC acquired a new position in Apellis Pharmaceuticals in the fourth quarter worth about $210,000. Finally, HC Advisors LLC acquired a new position in Apellis Pharmaceuticals in the fourth quarter worth about $210,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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).