Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Lowered to $25.00 at Royal Bank of Canada

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price trimmed by Royal Bank of Canada from $26.00 to $25.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a sector perform rating on the stock.

A number of other analysts also recently commented on the company. Oppenheimer lowered their target price on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group lowered their price objective on Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday. Needham & Company LLC cut their target price on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Morgan Stanley started coverage on shares of Apellis Pharmaceuticals in a report on Thursday, November 21st. They set an “equal weight” rating and a $31.00 price target on the stock. Finally, Piper Sandler cut their price objective on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.71.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS opened at $24.06 on Monday. The company has a 50 day simple moving average of $29.88 and a two-hundred day simple moving average of $31.48. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -11.85 and a beta of 0.96. 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 posted its earnings results on Friday, February 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.08. The company had revenue of $212.50 million during the quarter, compared to the consensus estimate of $197.92 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm’s quarterly revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.73) earnings per share. As a group, analysts predict that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In other news, insider Caroline Baumal sold 2,816 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the sale, the insider now directly owns 55,560 shares in the company, valued at $1,878,483.60. This represents a 4.82 % 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, CAO James George Chopas sold 1,096 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total transaction of $33,351.28. Following the transaction, the chief accounting officer now owns 48,138 shares in the company, valued at $1,464,839.34. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,365 shares of company stock worth $1,810,479 over the last quarter. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in Apellis Pharmaceuticals by 2,707.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after buying an additional 758 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Apellis Pharmaceuticals in the third quarter valued at about $27,000. True Wealth Design LLC acquired a new stake in Apellis Pharmaceuticals during the third quarter worth about $27,000. Signaturefd LLC raised its stake in Apellis Pharmaceuticals by 357.2% during the fourth quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock worth $37,000 after purchasing an additional 918 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in Apellis Pharmaceuticals in the 3rd quarter valued at about $56,000. 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).