Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Lowered to $39.00 at Mizuho

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price dropped by stock analysts at Mizuho from $42.00 to $39.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price objective points to a potential upside of 23.07% from the company’s current price.

APLS has been the topic of a number of other reports. HC Wainwright reduced their price target on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Wells Fargo & Company lowered their price target on shares of Apellis Pharmaceuticals from $57.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, May 23rd. Wedbush increased their price target on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Robert W. Baird boosted their price objective on Apellis Pharmaceuticals from $86.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Four equities research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $70.80.

Apellis Pharmaceuticals Price Performance

Shares of Apellis Pharmaceuticals stock traded down $5.04 on Friday, reaching $31.69. 4,502,649 shares of the stock were exchanged, compared to its average volume of 1,498,405. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. The firm has a market cap of $3.85 billion, a PE ratio of -9.01 and a beta of 0.88. The firm’s 50 day moving average is $38.01 and its 200-day moving average is $44.00. Apellis Pharmaceuticals has a one year low of $31.40 and a one year high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly 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 return on equity of 138.32% and a negative net margin of 52.99%. The company had revenue of $199.70 million for the quarter, compared to analyst estimates of $190.89 million. During the same quarter last year, the company posted ($1.02) EPS. The company’s revenue for the quarter was up 110.2% compared to the same quarter last year. As a group, analysts anticipate that Apellis Pharmaceuticals will post -1.29 EPS for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $3,623,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Apellis Pharmaceuticals by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 9,555,678 shares of the company’s stock worth $572,003,000 after acquiring an additional 85,701 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Apellis Pharmaceuticals by 38.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,460,339 shares of the company’s stock worth $147,277,000 after purchasing an additional 677,098 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of Apellis Pharmaceuticals by 47.7% in the second quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock valued at $53,750,000 after purchasing an additional 452,753 shares in the last quarter. Norges Bank purchased a new position in shares of Apellis Pharmaceuticals during the fourth quarter valued at approximately $56,640,000. Finally, Frazier Life Sciences Management L.P. grew its holdings in Apellis Pharmaceuticals by 44.2% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 885,165 shares of the company’s stock worth $52,986,000 after buying an additional 271,122 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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).