JPMorgan Chase & Co. Issues Positive Forecast for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price raised by JPMorgan Chase & Co. from $50.00 to $54.00 in a research report sent to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on APLS. Morgan Stanley assumed coverage on shares of Apellis Pharmaceuticals in a research note on Thursday, November 21st. They set an “equal weight” rating and a $31.00 price objective on the stock. Oppenheimer dropped their price target on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird decreased their price objective on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company cut their price target on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reduced their price target on Apellis Pharmaceuticals from $26.00 to $25.00 and set a “sector perform” rating for the company in a report on Monday. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.53.

Apellis Pharmaceuticals Price Performance

NASDAQ:APLS opened at $25.32 on Tuesday. The firm’s fifty day moving average is $29.38 and its two-hundred day moving average is $31.26. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of -12.47 and a beta of 0.93. Apellis Pharmaceuticals has a one year low of $23.77 and a one year high of $63.40. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Friday, February 28th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.08. The firm had revenue of $212.50 million for the quarter, compared to the consensus estimate of $197.92 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The company’s revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.73) earnings per share. Research analysts expect that Apellis Pharmaceuticals will post -1.7 EPS for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, insider Caroline Baumal sold 2,816 shares of the firm’s stock in a transaction that occurred 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 owns 55,560 shares in the company, valued at $1,878,483.60. This trade represents a 4.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James George Chopas sold 1,096 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total transaction of $33,351.28. Following the sale, the chief accounting officer now directly owns 48,138 shares in the company, valued at approximately $1,464,839.34. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,934 shares of company stock worth $1,950,261. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLS. EverSource Wealth Advisors LLC raised its holdings in Apellis Pharmaceuticals by 2,707.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after buying an additional 758 shares during the period. Wolverine Asset Management LLC acquired a new stake in shares of Apellis Pharmaceuticals during the third quarter valued at about $27,000. True Wealth Design LLC acquired a new stake in shares of Apellis Pharmaceuticals during the third quarter valued at about $27,000. Signaturefd LLC raised its stake in shares of Apellis Pharmaceuticals by 357.2% in the 4th quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock valued at $37,000 after acquiring an additional 918 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of Apellis Pharmaceuticals in the 3rd quarter worth approximately $56,000. 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).