Apellis Pharmaceuticals’ (APLS) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research note released on Wednesday,Benzinga reports. They currently have a $26.00 price target on the stock.

APLS has been the topic of a number of other research reports. Mizuho dropped their price target on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. HC Wainwright reiterated a “buy” rating and set a $57.00 target price on shares of Apellis Pharmaceuticals in a research report on Tuesday, January 14th. Piper Sandler lowered their price target on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Citigroup cut their price objective on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Evercore ISI raised shares of Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $46.71.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $29.47 on Wednesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of -14.52 and a beta of 0.94. Apellis Pharmaceuticals has a 52 week low of $24.34 and a 52 week high of $71.90. The firm’s 50-day simple moving average is $32.20 and its two-hundred day simple moving average is $32.96.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results 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 return on equity of 103.11% and a negative net margin of 34.97%. The company had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. During the same period last year, the firm posted ($1.17) EPS. The company’s revenue for the quarter was up 78.3% compared to the same quarter last year. As a group, equities analysts forecast that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In other news, insider Caroline Baumal sold 2,816 shares of Apellis Pharmaceuticals 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. The trade was a 4.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Eugene Sullivan sold 2,170 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.70, for a total value of $62,279.00. Following the completion of the transaction, the chief financial officer now directly owns 88,100 shares in the company, valued at approximately $2,528,470. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,112 shares of company stock worth $1,655,767. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Apellis Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC bought a new stake in shares of Apellis Pharmaceuticals in the 2nd quarter worth approximately $2,350,000. AQR Capital Management LLC lifted its stake in Apellis Pharmaceuticals by 337.3% in the second quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock worth $9,177,000 after purchasing an additional 190,420 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in Apellis Pharmaceuticals during the second quarter valued at about $725,000. Duncan Williams Asset Management LLC bought a new position in shares of Apellis Pharmaceuticals during the third quarter valued at about $609,000. Finally, Handelsbanken Fonder AB grew its stake in shares of Apellis Pharmaceuticals by 15.5% during the third quarter. Handelsbanken Fonder AB now owns 27,600 shares of the company’s stock valued at $796,000 after buying an additional 3,700 shares during the last quarter. 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).