Oppenheimer Issues Pessimistic Forecast for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective decreased by research analysts at Oppenheimer from $65.00 to $40.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 39.18% from the stock’s current price.

Several other analysts also recently commented on APLS. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $25.00 price target on shares of Apellis Pharmaceuticals in a research report on Monday. The Goldman Sachs Group lifted their price objective on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Evercore ISI raised shares of Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. Finally, Scotiabank initiated coverage on shares of Apellis Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $35.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Apellis Pharmaceuticals Stock Down 0.3 %

Shares of APLS opened at $28.74 on Wednesday. The business has a 50-day moving average of $31.19 and a 200-day moving average of $37.14. Apellis Pharmaceuticals has a 1 year low of $24.34 and a 1 year high of $73.80. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The firm had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. During the same period in the prior year, the company posted ($1.17) earnings per share. The company’s revenue for the quarter was up 78.3% compared to the same quarter last year. Equities research analysts anticipate that Apellis Pharmaceuticals will post -1.4 EPS for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the 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 completion of the transaction, the director now owns 100,000 shares in the company, valued at approximately $3,623,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.80% of the stock is owned by company insiders.

Institutional Trading of Apellis Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its position in shares of Apellis Pharmaceuticals by 191.9% during the third quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock worth $61,845,000 after acquiring an additional 1,409,707 shares in the last quarter. Iron Triangle Partners LP purchased a new position in Apellis Pharmaceuticals during the 1st quarter valued at about $32,329,000. Fiera Capital Corp increased its position in shares of Apellis Pharmaceuticals by 47.7% during the second quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock valued at $53,750,000 after buying an additional 452,753 shares during the period. AQR Capital Management LLC increased its position in shares of Apellis Pharmaceuticals by 337.3% during the second quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock valued at $9,177,000 after buying an additional 190,420 shares during the period. Finally, Redmile Group LLC bought a new position in shares of Apellis Pharmaceuticals in the first quarter valued at approximately $9,111,000. 96.29% of the stock is currently 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).