Royal Bank of Canada Reaffirms “Sector Perform” Rating for Apellis Pharmaceuticals (NASDAQ:APLS)

Apellis Pharmaceuticals (NASDAQ:APLS)‘s stock had its “sector perform” rating reiterated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $26.00 price objective on the stock. Royal Bank of Canada’s price objective suggests a potential downside of 14.45% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. Bank of America reduced their target price on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Piper Sandler cut their target price on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. The Goldman Sachs Group cut Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research report on Tuesday, December 17th. Oppenheimer decreased their target price on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Apellis Pharmaceuticals in a report on Tuesday, January 14th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Apellis Pharmaceuticals Stock Up 0.9 %

Shares of Apellis Pharmaceuticals stock opened at $30.39 on Tuesday. The company has a fifty day moving average price of $31.95 and a 200 day moving average price of $33.25. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals has a twelve month low of $24.34 and a twelve month high of $71.90. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -14.97 and a beta of 0.94.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The company had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The firm’s quarterly revenue was up 78.3% on a year-over-year basis. During the same quarter last year, the firm posted ($1.17) EPS. Equities research analysts forecast that Apellis Pharmaceuticals will post -1.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In related news, General Counsel David O. Watson sold 4,965 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.70, for a total transaction of $142,495.50. Following the transaction, the general counsel now owns 107,756 shares of the company’s stock, valued at approximately $3,092,597.20. The trade was a 4.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Caroline Baumal sold 2,816 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the sale, the insider now directly owns 55,560 shares of the company’s stock, valued at approximately $1,878,483.60. This trade represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,106 shares of company stock worth $894,834 over the last 90 days. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several hedge funds have recently made changes to their positions in the stock. Braidwell LP lifted its position in shares of Apellis Pharmaceuticals by 410.8% in the 3rd quarter. Braidwell LP now owns 3,125,183 shares of the company’s stock worth $90,130,000 after acquiring an additional 2,513,383 shares during the period. Assenagon Asset Management S.A. lifted its position in 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 worth $61,845,000 after purchasing an additional 1,409,707 shares during the period. JPMorgan Chase & Co. increased its holdings in Apellis Pharmaceuticals by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock valued at $112,036,000 after buying an additional 735,160 shares during the period. Sphera Funds Management LTD. acquired a new position in shares of Apellis Pharmaceuticals in the 3rd quarter valued at $6,226,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Apellis Pharmaceuticals by 337.3% during the 2nd quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock worth $9,177,000 after acquiring an additional 190,420 shares during the period. 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).