Robert W. Baird Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $55.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price reduced by Robert W. Baird from $92.00 to $55.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms have also weighed in on APLS. Oppenheimer cut their price objective on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday. William Blair initiated coverage on Apellis Pharmaceuticals in a report on Wednesday, October 16th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. reduced their price target on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. 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. Finally, Citigroup reduced their target price on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Apellis Pharmaceuticals Stock Performance

Apellis Pharmaceuticals stock opened at $29.98 on Thursday. Apellis Pharmaceuticals has a fifty-two week low of $24.34 and a fifty-two week high of $73.80. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -14.77 and a beta of 0.87. The stock has a fifty day moving average of $31.02 and a two-hundred day moving average of $36.94. The company has a debt-to-equity ratio of 1.91, a quick ratio of 4.18 and a current ratio of 4.36.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS 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 company had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same period in the previous year, the business earned ($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 EPS for the current fiscal year.

Insider Activity

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s 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 completion of the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of APLS. Assenagon Asset Management S.A. grew its stake in shares of Apellis Pharmaceuticals by 191.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock valued at $61,845,000 after buying an additional 1,409,707 shares in the last quarter. Iron Triangle Partners LP acquired a new stake in Apellis Pharmaceuticals in the first quarter valued at approximately $32,329,000. Fiera Capital Corp grew its position in Apellis Pharmaceuticals by 47.7% in the second quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock valued at $53,750,000 after acquiring an additional 452,753 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Apellis Pharmaceuticals by 337.3% during the second quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock valued at $9,177,000 after purchasing an additional 190,420 shares during the period. Finally, Redmile Group LLC acquired a new position in shares of Apellis Pharmaceuticals during the first quarter worth $9,111,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

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).