Robert W. Baird Reaffirms Outperform Rating for Apellis Pharmaceuticals (NASDAQ:APLS)

Robert W. Baird reissued their outperform rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research report sent to investors on Friday, Benzinga reports. Robert W. Baird currently has a $100.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. UBS Group lowered their target price on Apellis Pharmaceuticals from $89.00 to $85.00 and set a buy rating for the company in a research note on Wednesday, May 8th. Citigroup cut their target price on shares of Apellis Pharmaceuticals from $67.00 to $60.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a buy rating and set a $85.00 price target on shares of Apellis Pharmaceuticals in a research report on Wednesday, May 8th. Wells Fargo & Company dropped their price target on shares of Apellis Pharmaceuticals from $57.00 to $48.00 and set an equal weight rating for the company in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Apellis Pharmaceuticals from $78.00 to $79.00 and gave the company an overweight rating in a research note on Wednesday, March 6th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $75.56.

Apellis Pharmaceuticals Stock Down 7.6 %

Shares of NASDAQ APLS opened at $38.36 on Friday. Apellis Pharmaceuticals has a 12-month low of $19.83 and a 12-month high of $92.22. The firm’s 50-day simple moving average is $42.60 and its 200 day simple moving average is $54.71. The company has a quick ratio of 3.02, a current ratio of 3.77 and a debt-to-equity ratio of 0.35. The company has a market cap of $4.66 billion, a price-to-earnings ratio of -11.09 and a beta of 0.95.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Tuesday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.54). The company had revenue of $172.33 million for the quarter, compared to analyst estimates of $163.37 million. Apellis Pharmaceuticals had a negative net margin of 79.67% and a negative return on equity of 160.77%. Apellis Pharmaceuticals’s quarterly revenue was up 284.3% on a year-over-year basis. During the same period in the prior year, the business earned ($1.56) earnings per share. On average, research analysts expect that Apellis Pharmaceuticals will post -1.1 earnings per share for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, insider Pascal Deschatelets sold 69,107 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the sale, the insider now directly owns 1,115,983 shares of the company’s stock, valued at approximately $60,452,799.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $39.24, for a total value of $1,451,880.00. Following the completion of the transaction, the director now directly owns 136,998 shares of the company’s stock, valued at $5,375,801.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Pascal Deschatelets sold 69,107 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the sale, the insider now directly owns 1,115,983 shares in the company, valued at $60,452,799.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,014 shares of company stock valued at $8,537,118. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new position in Apellis Pharmaceuticals during the first quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Apellis Pharmaceuticals during the 1st quarter worth approximately $89,000. CWA Asset Management Group LLC acquired a new position in shares of Apellis Pharmaceuticals during the 4th quarter worth approximately $205,000. Woodward Diversified Capital LLC acquired a new stake in Apellis Pharmaceuticals during the 4th quarter valued at $210,000. Finally, HC Advisors LLC bought a new position in Apellis Pharmaceuticals during the fourth quarter worth $210,000. 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).