Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $38.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price reduced by Mizuho from $39.00 to $38.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently issued reports on APLS. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price objective on shares of Apellis Pharmaceuticals in a report on Friday, September 20th. Wedbush boosted their price objective on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Wells Fargo & Company decreased their target price on shares of Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 24th. William Blair began coverage on Apellis Pharmaceuticals in a report on Wednesday, October 16th. They set an “outperform” rating for the company. Finally, The Goldman Sachs Group increased their price objective on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.41.

Apellis Pharmaceuticals Price Performance

Shares of APLS opened at $26.68 on Thursday. The company has a market capitalization of $3.24 billion, a P/E ratio of -7.71 and a beta of 0.87. The business’s 50-day moving average is $33.22 and its two-hundred day moving average is $38.38. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. Apellis Pharmaceuticals has a fifty-two week low of $26.28 and a fifty-two week high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The firm had revenue of $199.70 million during the quarter, compared to analysts’ expectations of $190.89 million. During the same period in the previous year, the business posted ($1.02) EPS. The business’s revenue was up 110.2% compared to the same quarter last year. Research analysts predict that Apellis Pharmaceuticals will post -1.37 earnings per share for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in APLS. Future Financial Wealth Managment LLC acquired a new position in Apellis Pharmaceuticals in the first quarter valued at $29,000. Hennion & Walsh Asset Management Inc. raised its position in Apellis Pharmaceuticals by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 14,068 shares of the company’s stock worth $827,000 after acquiring an additional 1,766 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Apellis Pharmaceuticals by 94.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 115,453 shares of the company’s stock worth $6,786,000 after purchasing an additional 56,178 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Apellis Pharmaceuticals by 254.5% in the first quarter. Principal Financial Group Inc. now owns 84,604 shares of the company’s stock worth $4,973,000 after acquiring an additional 60,741 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Apellis Pharmaceuticals in the 1st quarter valued at about $3,218,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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).