JPMorgan Chase & Co. Trims Apellis Pharmaceuticals (NASDAQ:APLS) Target Price to $57.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $64.00 to $57.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 51.52% from the stock’s current price.

A number of other equities research analysts also recently weighed in on APLS. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Apellis Pharmaceuticals in a report on Friday, August 9th. Piper Sandler started coverage on Apellis Pharmaceuticals in a research note on Friday, May 31st. They issued a “neutral” rating and a $46.00 price objective on the stock. Robert W. Baird increased their target price on shares of Apellis Pharmaceuticals from $86.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Wedbush lifted their price target on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Finally, The Goldman Sachs Group increased their price objective on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Apellis Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $71.67.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $37.62 on Friday. Apellis Pharmaceuticals has a 52 week low of $33.49 and a 52 week high of $73.80. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. The company’s 50 day moving average price is $38.14 and its two-hundred day moving average price is $44.80. The company has a market capitalization of $4.58 billion, a P/E ratio of -10.87 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The business had revenue of $199.70 million for the quarter, compared to the consensus estimate of $190.89 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. Apellis Pharmaceuticals’s quarterly revenue was up 110.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.02) earnings per share. On average, analysts expect that Apellis Pharmaceuticals will post -1.29 earnings per share for the current fiscal year.

Insider Transactions at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $39.24, for a total transaction of $1,451,880.00. Following the sale, the director now owns 136,998 shares in the company, valued at $5,375,801.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC purchased a new stake in Apellis Pharmaceuticals in the first quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Apellis Pharmaceuticals during the 1st quarter valued at $89,000. nVerses Capital LLC lifted its holdings in shares of Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after acquiring an additional 2,100 shares during the last quarter. CWM LLC lifted its holdings in shares of Apellis Pharmaceuticals by 299.9% during the 2nd quarter. CWM LLC now owns 4,151 shares of the company’s stock worth $159,000 after acquiring an additional 3,113 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in Apellis Pharmaceuticals in the fourth quarter worth $205,000. 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).