Apellis Pharmaceuticals (NASDAQ:APLS) PT Lowered to $57.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target trimmed by JPMorgan Chase & Co. from $64.00 to $57.00 in a report issued on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

APLS has been the topic of a number of other reports. Wedbush boosted their price target on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a neutral rating in a research note on Friday, August 9th. HC Wainwright cut their price target on Apellis Pharmaceuticals from $92.00 to $83.00 and set a buy rating for the company in a research note on Friday, August 2nd. Needham & Company LLC restated a buy rating and set a $85.00 target price on shares of Apellis Pharmaceuticals in a report on Friday, August 9th. Robert W. Baird increased their price target on shares of Apellis Pharmaceuticals from $86.00 to $96.00 and gave the company an outperform rating in a research report on Friday, August 9th. Finally, Piper Sandler began coverage on Apellis Pharmaceuticals in a report on Friday, May 31st. They set a neutral rating and a $46.00 target price on the stock. Four 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 MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $71.67.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ APLS opened at $36.31 on Friday. The firm has a market capitalization of $4.42 billion, a PE ratio of -10.49 and a beta of 0.88. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. Apellis Pharmaceuticals has a fifty-two week low of $33.49 and a fifty-two week high of $73.80. The stock’s 50-day simple moving average is $38.13 and its 200-day simple moving average is $44.31.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The company had revenue of $199.70 million during the quarter, compared to analysts’ expectations of $190.89 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm’s revenue for the quarter was up 110.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.02) earnings per share. As a group, equities research analysts forecast that Apellis Pharmaceuticals will post -1.29 EPS for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $39.24, for a total transaction of $1,451,880.00. Following the completion of the sale, the director now owns 136,998 shares in the company, valued at approximately $5,375,801.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC acquired a new stake in Apellis Pharmaceuticals in the first quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Apellis Pharmaceuticals during the 1st quarter valued at approximately $89,000. nVerses Capital LLC increased its holdings in Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after purchasing an additional 2,100 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Apellis Pharmaceuticals in the 4th quarter valued at approximately $205,000. Finally, Woodward Diversified Capital LLC purchased a new position in shares of Apellis Pharmaceuticals during the 4th quarter valued at approximately $210,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

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).