Apellis Pharmaceuticals (NASDAQ:APLS) Hits New 52-Week Low at $32.57

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) reached a new 52-week low on Friday . The company traded as low as $32.57 and last traded at $33.05, with a volume of 1263044 shares trading hands. The stock had previously closed at $36.73.

Wall Street Analysts Forecast Growth

APLS has been the topic of several recent analyst reports. UBS Group cut their price objective on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. HC Wainwright decreased their price objective on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Piper Sandler started coverage on Apellis Pharmaceuticals in a research note on Friday, May 31st. They set a “neutral” rating and a $46.00 target price on the stock. Jefferies Financial Group restated a “buy” rating and issued a $80.00 price target on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of Apellis Pharmaceuticals in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Apellis Pharmaceuticals Price Performance

The stock has a market cap of $4.11 billion, a PE ratio of -9.56 and a beta of 0.88. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. The firm has a 50-day moving average of $38.01 and a 200-day moving average of $44.00.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Thursday, August 1st. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $190.89 million. During the same quarter in the prior year, the firm posted ($1.02) earnings per share. The company’s quarterly revenue was up 110.2% on a year-over-year basis. Research analysts predict that Apellis Pharmaceuticals, Inc. will post -1.29 EPS for the current year.

Insider Activity at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the transaction, the director now owns 100,000 shares in the company, valued at $3,623,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Apellis Pharmaceuticals during the fourth quarter worth $56,640,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Apellis Pharmaceuticals in the first quarter valued at about $3,218,000. Bellevue Group AG boosted its holdings in Apellis Pharmaceuticals by 3.5% in the fourth quarter. Bellevue Group AG now owns 821,800 shares of the company’s stock worth $49,193,000 after acquiring an additional 27,959 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Apellis Pharmaceuticals in the first quarter worth about $942,000. Finally, Altitude Crest Partners Inc. purchased a new stake in shares of Apellis Pharmaceuticals during the fourth quarter worth about $9,111,000. 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).