Apellis Pharmaceuticals’ (APLS) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $26.00 price objective on the stock.

Several other equities research analysts also recently commented on APLS. Citigroup dropped their target price on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. William Blair assumed coverage on shares of Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They set an “outperform” rating on the stock. Scotiabank lowered their price target on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Robert W. Baird cut their price objective on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, The Goldman Sachs Group downgraded Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a research note on Tuesday, December 17th. Eight investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.71.

Apellis Pharmaceuticals Trading Up 0.7 %

Shares of APLS stock opened at $30.13 on Tuesday. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals has a fifty-two week low of $24.34 and a fifty-two week high of $71.90. The firm’s 50 day moving average price is $31.89 and its two-hundred day moving average price is $33.31. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of -14.84 and a beta of 0.94.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same quarter in the previous year, the firm posted ($1.17) EPS. The business’s revenue was up 78.3% compared to the same quarter last year. On average, analysts anticipate that Apellis Pharmaceuticals will post -1.71 EPS for the current year.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, CFO Timothy Eugene Sullivan sold 1,730 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $29.96, for a total value of $51,830.80. Following the sale, the chief financial officer now directly owns 86,370 shares of the company’s stock, valued at $2,587,645.20. This trade represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Cedric Francois sold 6,247 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.70, for a total value of $179,288.90. Following the completion of the sale, the chief executive officer now owns 307,415 shares in the company, valued at $8,822,810.50. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,106 shares of company stock valued at $894,834 in the last quarter. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Apellis Pharmaceuticals by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock worth $112,036,000 after buying an additional 735,160 shares in the last quarter. Braidwell LP boosted its position in Apellis Pharmaceuticals by 410.8% during the 3rd quarter. Braidwell LP now owns 3,125,183 shares of the company’s stock worth $90,130,000 after acquiring an additional 2,513,383 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Apellis Pharmaceuticals by 191.9% in the third 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. Geode Capital Management LLC increased its holdings in shares of Apellis Pharmaceuticals by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,810,526 shares of the company’s stock valued at $52,229,000 after purchasing an additional 22,609 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Apellis Pharmaceuticals by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 956,362 shares of the company’s stock valued at $27,581,000 after purchasing an additional 9,328 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).