Wells Fargo & Company Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $43.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective reduced by equities research analysts at Wells Fargo & Company from $47.00 to $43.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 36.42% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Mizuho cut their target price on shares of Apellis Pharmaceuticals from $42.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday. Piper Sandler began coverage on shares of Apellis Pharmaceuticals in a research report on Friday, May 31st. They set a “neutral” rating and a $46.00 target price on the stock. Wedbush lifted their price objective on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a research report on Wednesday, July 31st. Finally, 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. Four equities 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Apellis Pharmaceuticals Trading Down 3.7 %

APLS stock traded down $1.20 during trading on Tuesday, hitting $31.52. The company had a trading volume of 1,226,031 shares, compared to its average volume of 1,516,047. The firm has a market capitalization of $3.83 billion, a P/E ratio of -9.11 and a beta of 0.88. Apellis Pharmaceuticals has a 52-week low of $30.90 and a 52-week high of $73.80. The company has a 50 day simple moving average of $37.72 and a 200-day simple moving average of $43.32. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted 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. The business had revenue of $199.70 million for the quarter, compared to the consensus estimate of $190.89 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The company’s revenue for the quarter was up 110.2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.02) EPS. As a group, research analysts forecast that Apellis Pharmaceuticals will post -1.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the sale, the director now directly owns 100,000 shares in the company, valued at approximately $3,623,000. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Apellis Pharmaceuticals in the 4th quarter valued at $56,640,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Apellis Pharmaceuticals in the 1st quarter valued at $3,218,000. Bellevue Group AG increased its holdings in Apellis Pharmaceuticals by 3.5% in the 4th 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. purchased a new stake in Apellis Pharmaceuticals in the 1st quarter worth $942,000. Finally, Altitude Crest Partners Inc. purchased a new stake in Apellis Pharmaceuticals in the 4th quarter worth $9,111,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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).