Apellis Pharmaceuticals (NASDAQ:APLS) PT Lowered to $83.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective trimmed by HC Wainwright from $92.00 to $83.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Apellis Pharmaceuticals from $77.00 to $66.00 and set a buy rating on the stock in a report on Friday. Piper Sandler began coverage on Apellis Pharmaceuticals in a research report on Friday, May 31st. They set a neutral rating and a $46.00 price target on the stock. Citigroup lowered their price objective on Apellis Pharmaceuticals from $67.00 to $60.00 and set a buy rating for the company in a research note on Wednesday, May 8th. Wedbush lowered their price objective on Apellis Pharmaceuticals from $67.00 to $57.00 and set a neutral rating for the company in a research note on Wednesday, April 17th. Finally, Needham & Company LLC reiterated a buy rating and set a $85.00 price objective on shares of Apellis Pharmaceuticals in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apellis Pharmaceuticals currently has an average rating of Moderate Buy and an average price target of $73.50.

Apellis Pharmaceuticals Price Performance

APLS stock opened at $33.89 on Friday. The firm has a 50 day moving average of $39.20 and a 200-day moving average of $50.53. The company has a current ratio of 5.08, a quick ratio of 3.02 and a debt-to-equity ratio of 1.73. Apellis Pharmaceuticals has a 12 month low of $19.83 and a 12 month high of $73.80. The firm has a market capitalization of $4.11 billion, a P/E ratio of -9.94 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The business had revenue of $199.70 million during the quarter, compared to analyst estimates of $190.89 million. During the same period in the previous year, the business posted ($1.02) earnings per share. Apellis Pharmaceuticals’s revenue for the quarter was up 110.2% on a year-over-year basis. As a group, sell-side analysts predict that Apellis Pharmaceuticals will post -1.14 earnings per share for the current fiscal year.

Insider Transactions at Apellis Pharmaceuticals

In other news, insider Pascal Deschatelets sold 78,907 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $42.35, for a total value of $3,341,711.45. Following the completion of the transaction, the insider now owns 1,115,983 shares of the company’s stock, valued at $47,261,880.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related 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 value of $1,451,880.00. Following the sale, the director now directly owns 136,998 shares in the company, valued at $5,375,801.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pascal Deschatelets sold 78,907 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $42.35, for a total value of $3,341,711.45. Following the completion of the sale, the insider now owns 1,115,983 shares in the company, valued at $47,261,880.05. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new stake in shares of Apellis Pharmaceuticals in the 1st quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Apellis Pharmaceuticals during the 1st quarter worth approximately $89,000. nVerses Capital LLC lifted its stake in shares of 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 acquiring an additional 2,100 shares during the last quarter. CWM LLC lifted its stake in shares of Apellis Pharmaceuticals by 299.9% during the 2nd quarter. CWM LLC now owns 4,151 shares of the company’s stock worth $159,000 after acquiring an additional 3,113 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in shares of Apellis Pharmaceuticals during the 4th quarter worth approximately $205,000. 96.29% of the stock is currently 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).