Apellis Pharmaceuticals (NASDAQ:APLS) PT Lowered to $83.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price reduced by equities research analysts at UBS Group from $85.00 to $83.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 124.26% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Mizuho cut their target price on shares of Apellis Pharmaceuticals from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Wells Fargo & Company lowered their price objective on shares of Apellis Pharmaceuticals from $57.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 23rd. Wedbush raised their price target on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday. Citigroup cut their price objective on shares of Apellis Pharmaceuticals from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Robert W. Baird increased their price objective on shares of Apellis Pharmaceuticals from $86.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday. Four 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.63.

Apellis Pharmaceuticals Stock Down 1.7 %

APLS stock traded down $0.65 during midday trading on Friday, reaching $37.01. 1,885,232 shares of the company were exchanged, compared to its average volume of 1,541,113. The company has a debt-to-equity ratio of 1.73, a quick ratio of 3.02 and a current ratio of 5.08. Apellis Pharmaceuticals has a 1-year low of $23.86 and a 1-year high of $73.80. The stock’s 50-day simple moving average is $38.70 and its 200 day simple moving average is $49.60. The company has a market cap of $4.49 billion, a price-to-earnings ratio of -10.70 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The company had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $190.89 million. During the same quarter last year, the company earned ($1.02) earnings per share. The firm’s revenue for the quarter was up 110.2% on a year-over-year basis. On average, equities analysts forecast that Apellis Pharmaceuticals will post -1.14 earnings per share for the current year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 136,998 shares in the company, valued at $5,375,801.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of institutional investors have recently bought and sold shares of APLS. Norges Bank acquired a new stake in shares of Apellis Pharmaceuticals during the 4th quarter valued at about $56,640,000. Price T Rowe Associates Inc. MD grew its position in Apellis Pharmaceuticals by 38.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,460,339 shares of the company’s stock valued at $147,277,000 after acquiring an additional 677,098 shares during the period. Iron Triangle Partners LP bought a new stake in shares of Apellis Pharmaceuticals during the first quarter worth $32,329,000. Fiera Capital Corp grew its holdings 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 worth $53,750,000 after purchasing an additional 452,753 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its holdings in shares of Apellis Pharmaceuticals by 44.2% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 885,165 shares of the company’s stock worth $52,986,000 after purchasing an additional 271,122 shares during the last quarter. 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).