Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $29.00 by Analysts at Wedbush

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective lowered by Wedbush from $30.00 to $29.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

APLS has been the subject of several other reports. The Goldman Sachs Group cut shares of Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Tuesday, December 17th. Bank of America decreased their price target on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Needham & Company LLC decreased their target price on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Apellis Pharmaceuticals in a research note on Thursday, November 21st. They issued an “equal weight” rating and a $31.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.71.

Apellis Pharmaceuticals Stock Down 4.3 %

Shares of APLS opened at $24.06 on Monday. The company has a market capitalization of $2.99 billion, a PE ratio of -11.85 and a beta of 0.96. The stock’s 50-day moving average price is $29.88 and its two-hundred day moving average price is $31.48. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals has a 12 month low of $23.81 and a 12 month high of $66.00.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Friday, February 28th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.08. The business had revenue of $212.50 million for the quarter, compared to analysts’ expectations of $197.92 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The firm’s revenue was up 45.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.73) earnings per share. On average, analysts anticipate that Apellis Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity

In related news, CAO James George Chopas sold 1,096 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total transaction of $33,351.28. Following the completion of the sale, the chief accounting officer now owns 48,138 shares in the company, valued at approximately $1,464,839.34. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Timothy Eugene Sullivan sold 2,170 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 $62,279.00. Following the transaction, the chief financial officer now owns 88,100 shares in the company, valued at approximately $2,528,470. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,365 shares of company stock worth $1,810,479 over the last three months. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of APLS. KBC Group NV increased its position in shares of Apellis Pharmaceuticals by 34.8% during the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after acquiring an additional 679 shares during the last quarter. Xponance Inc. grew its stake in Apellis Pharmaceuticals by 5.6% in the 4th quarter. Xponance Inc. now owns 14,072 shares of the company’s stock valued at $449,000 after purchasing an additional 749 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Apellis Pharmaceuticals by 2,707.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after purchasing an additional 758 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Apellis Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock worth $130,000 after purchasing an additional 781 shares during the period. Finally, Woodline Partners LP boosted its holdings in shares of Apellis Pharmaceuticals by 0.5% in the 4th quarter. Woodline Partners LP now owns 189,477 shares of the company’s stock worth $6,046,000 after buying an additional 913 shares during the last quarter. Hedge funds and other institutional investors 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).