Apellis Pharmaceuticals (NASDAQ:APLS) Earns “Buy” Rating from HC Wainwright

Apellis Pharmaceuticals (NASDAQ:APLS)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $57.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 108.03% from the company’s current price.

A number of other analysts also recently issued reports on the company. Bank of America cut their target price on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Morgan Stanley initiated coverage on Apellis Pharmaceuticals in a research note on Thursday, November 21st. They issued an “equal weight” rating and a $31.00 target price for the company. William Blair initiated coverage on Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued an “outperform” rating for the company. Piper Sandler cut their target price on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Finally, Mizuho cut their target price on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Apellis Pharmaceuticals Stock Down 0.2 %

NASDAQ APLS opened at $27.40 on Thursday. The business has a fifty day moving average price of $31.21 and a 200 day moving average price of $32.19. Apellis Pharmaceuticals has a one year low of $24.34 and a one year high of $71.90. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. The company has a market cap of $3.41 billion, a P/E ratio of -13.50 and a beta of 0.96.

Insider Activity at Apellis Pharmaceuticals

In other news, insider Caroline Baumal sold 2,816 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the transaction, the insider now owns 55,560 shares in the company, valued at approximately $1,878,483.60. This trade represents a 4.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Cedric Francois sold 6,247 shares of Apellis Pharmaceuticals stock in a transaction dated 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 transaction, the chief executive officer now owns 307,415 shares of the company’s stock, valued at $8,822,810.50. The trade was a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,365 shares of company stock worth $1,810,479 in the last three months. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in APLS. CWM LLC boosted its stake in shares of Apellis Pharmaceuticals by 471.5% in the 3rd quarter. CWM LLC now owns 23,722 shares of the company’s stock valued at $684,000 after buying an additional 19,571 shares during the period. Eastern Bank purchased a new position in shares of Apellis Pharmaceuticals in the 3rd quarter valued at about $332,000. Assenagon Asset Management S.A. boosted its stake 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 valued at $61,845,000 after buying an additional 1,409,707 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Apellis Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock valued at $130,000 after buying an additional 781 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Apellis Pharmaceuticals during the third quarter worth approximately $402,000. Hedge funds and other institutional investors 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).