Scotiabank Issues Pessimistic Forecast for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective reduced by Scotiabank from $35.00 to $30.00 in a report issued on Wednesday,Benzinga reports. Scotiabank currently has a sector perform rating on the stock.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada restated a “sector perform” rating and set a $25.00 target price on shares of Apellis Pharmaceuticals in a research note on Monday, November 4th. Piper Sandler cut their price objective on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday. William Blair began coverage on Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They issued an “outperform” rating on the stock. Mizuho lowered their target price on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. reduced their price target on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Apellis Pharmaceuticals Price Performance

NASDAQ:APLS opened at $29.98 on Wednesday. The company has a quick ratio of 4.18, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals has a 12-month low of $24.34 and a 12-month high of $73.80. The stock’s 50 day moving average price is $31.02 and its two-hundred day moving average price is $36.94. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -14.77 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. During the same quarter last year, the company posted ($1.17) EPS. The firm’s revenue was up 78.3% on a year-over-year basis. On average, analysts anticipate that Apellis Pharmaceuticals will post -1.5 earnings per share for the current year.

Insider Activity

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the company’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 completion of the sale, the director now owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Wolverine Asset Management LLC acquired a new position in Apellis Pharmaceuticals during the third quarter worth about $27,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Apellis Pharmaceuticals during the 1st quarter valued at approximately $89,000. Capital Performance Advisors LLP bought a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter valued at approximately $56,000. KBC Group NV increased its position in Apellis Pharmaceuticals by 34.8% during the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after purchasing an additional 679 shares in the last quarter. Finally, nVerses Capital LLC lifted its stake in Apellis Pharmaceuticals by 300.0% in the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after purchasing an additional 2,100 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

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).