Apellis Pharmaceuticals (NASDAQ:APLS) Shares Gap Down to $41.52

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) gapped down before the market opened on Friday . The stock had previously closed at $41.52, but opened at $39.52. Apellis Pharmaceuticals shares last traded at $38.26, with a volume of 222,397 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday, May 8th. UBS Group decreased their target price on Apellis Pharmaceuticals from $89.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. HC Wainwright reaffirmed a “buy” rating and set a $92.00 target price on shares of Apellis Pharmaceuticals in a research report on Tuesday, May 28th. Citigroup decreased their target price on Apellis Pharmaceuticals from $67.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. boosted their price target on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.56.

Apellis Pharmaceuticals Stock Down 7.6 %

The company has a 50-day moving average of $42.60 and a 200-day moving average of $54.77. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of -11.09 and a beta of 0.95. The company has a current ratio of 3.77, a quick ratio of 3.02 and a debt-to-equity ratio of 0.35.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Tuesday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.54). Apellis Pharmaceuticals had a negative return on equity of 160.77% and a negative net margin of 79.67%. The company had revenue of $172.33 million for the quarter, compared to analyst estimates of $163.37 million. During the same period in the prior year, the company posted ($1.56) EPS. The firm’s quarterly revenue was up 284.3% compared to the same quarter last year. On average, equities analysts predict that Apellis Pharmaceuticals, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, CFO Timothy Eugene Sullivan sold 4,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $58.66, for a total transaction of $234,640.00. Following the sale, the chief financial officer now owns 93,338 shares in the company, valued at approximately $5,475,207.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director A. Sinclair Dunlop sold 37,000 shares of the company’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 owns 136,998 shares in the company, valued at $5,375,801.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy Eugene Sullivan sold 4,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $58.66, for a total value of $234,640.00. Following the completion of the sale, the chief financial officer now owns 93,338 shares in the company, valued at approximately $5,475,207.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,014 shares of company stock worth $8,771,758. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Large investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC acquired a new position in Apellis Pharmaceuticals in the 1st quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Apellis Pharmaceuticals in the 1st quarter worth about $89,000. CWA Asset Management Group LLC acquired a new position in Apellis Pharmaceuticals in the 4th quarter worth about $205,000. HC Advisors LLC acquired a new position in Apellis Pharmaceuticals in the 4th quarter worth about $210,000. Finally, Woodward Diversified Capital LLC acquired a new position in Apellis Pharmaceuticals in the 4th quarter worth about $210,000. Institutional investors and hedge funds 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).