JPMorgan Chase & Co. Issues Positive Forecast for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price raised by JPMorgan Chase & Co. from $50.00 to $54.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently commented on APLS. The Goldman Sachs Group cut their price objective on Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Monday. Morgan Stanley started coverage on Apellis Pharmaceuticals in a report on Thursday, November 21st. They set an “equal weight” rating and a $31.00 target price for the company. Bank of America dropped their target price on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Oppenheimer decreased their price target on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Piper Sandler decreased their target price on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apellis Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $45.53.

Apellis Pharmaceuticals Stock Up 4.1 %

Shares of NASDAQ APLS opened at $25.05 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 12-month low of $23.77 and a 12-month high of $64.58. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -12.34 and a beta of 0.93. The firm’s 50-day simple moving average is $29.70 and its 200 day simple moving average is $31.39.

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

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, CAO James George Chopas sold 1,096 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were 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 directly owns 48,138 shares of the company’s stock, valued at approximately $1,464,839.34. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Caroline Baumal sold 2,816 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the sale, the insider now directly owns 55,560 shares of the company’s stock, valued at approximately $1,878,483.60. This trade represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,365 shares of company stock valued at $1,810,479 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Apellis Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in APLS. KBC Group NV increased its holdings 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 in the last quarter. Xponance Inc. lifted its holdings 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 in the last quarter. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 758 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 purchasing an additional 781 shares in the last quarter. Finally, Woodline Partners LP increased its stake 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 acquiring an additional 913 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

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).