Wells Fargo & Company Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $30.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective reduced by stock analysts at Wells Fargo & Company from $43.00 to $30.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 5.15% from the company’s current price.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut their target price on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Evercore ISI upgraded Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Scotiabank started coverage on Apellis Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $35.00 price target on the stock. UBS Group dropped their price target on Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Bank of America dropped their price target on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $56.29.

Apellis Pharmaceuticals Trading Up 1.6 %

Shares of NASDAQ:APLS traded up $0.45 during mid-day trading on Wednesday, reaching $28.53. 553,138 shares of the company’s stock were exchanged, compared to its average volume of 1,764,245. The firm has a market capitalization of $3.47 billion, a price-to-earnings ratio of -10.32 and a beta of 0.87. The business’s fifty day moving average price is $31.58 and its 200-day moving average price is $37.26. 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 twelve month low of $24.34 and a twelve month high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued 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). The business had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. Apellis Pharmaceuticals’s revenue for the quarter was up 78.3% on a year-over-year basis. During the same quarter last year, the firm posted ($1.17) EPS. On average, research analysts predict that Apellis Pharmaceuticals will post -1.4 EPS for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $3,623,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APLS. Assenagon Asset Management S.A. boosted its holdings in shares of Apellis Pharmaceuticals by 191.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock worth $61,845,000 after purchasing an additional 1,409,707 shares in the last quarter. Iron Triangle Partners LP purchased a new position in shares of Apellis Pharmaceuticals in the 1st quarter worth about $32,329,000. Fiera Capital Corp boosted its holdings in shares of Apellis Pharmaceuticals by 47.7% in the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock worth $53,750,000 after purchasing an additional 452,753 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Apellis Pharmaceuticals by 337.3% in the 2nd 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 in the last quarter. Finally, Redmile Group LLC purchased a new position in shares of Apellis Pharmaceuticals in the 1st quarter worth about $9,111,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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).