Apellis Pharmaceuticals (NASDAQ:APLS) PT Lowered to $92.00 at Robert W. Baird

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price trimmed by Robert W. Baird from $96.00 to $92.00 in a report released on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other brokerages have also commented on APLS. The Goldman Sachs Group upped their price objective on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a buy rating in a report on Friday, August 9th. Wedbush raised their price target on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a neutral rating in a research report on Friday, August 9th. Jefferies Financial Group reiterated a buy rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. UBS Group dropped their target price on Apellis Pharmaceuticals from $85.00 to $83.00 and set a buy rating for the company in a research report on Friday, August 9th. Finally, Mizuho dropped their target price on Apellis Pharmaceuticals from $42.00 to $39.00 and set a neutral rating for the company in a research report on Friday, September 20th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apellis Pharmaceuticals currently has an average rating of Moderate Buy and a consensus target price of $70.20.

Apellis Pharmaceuticals Price Performance

NASDAQ:APLS opened at $30.59 on Monday. Apellis Pharmaceuticals has a 52 week low of $30.23 and a 52 week high of $73.80. The stock’s fifty day moving average is $37.34 and its two-hundred day moving average is $43.01. The company has a market capitalization of $3.72 billion, a P/E ratio of -8.84 and a beta of 0.88. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm had revenue of $199.70 million during the quarter, compared to the consensus estimate of $190.89 million. During the same period last year, the company earned ($1.02) EPS. The company’s quarterly revenue was up 110.2% on a year-over-year basis. Equities analysts expect that Apellis Pharmaceuticals will post -1.34 EPS for the current year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $3,623,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APLS. Vanguard Group Inc. raised its holdings in Apellis Pharmaceuticals by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 9,555,678 shares of the company’s stock valued at $572,003,000 after buying an additional 85,701 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Apellis Pharmaceuticals by 38.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,460,339 shares of the company’s stock worth $147,277,000 after purchasing an additional 677,098 shares during the period. Fiera Capital Corp increased its holdings in Apellis Pharmaceuticals by 47.7% in the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock valued at $53,750,000 after purchasing an additional 452,753 shares in the last quarter. Norges Bank purchased a new position in Apellis Pharmaceuticals in the fourth quarter valued at about $56,640,000. Finally, Frazier Life Sciences Management L.P. raised its position in Apellis Pharmaceuticals by 44.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 885,165 shares of the company’s stock valued at $52,986,000 after purchasing an additional 271,122 shares during the period. 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).