Apellis Pharmaceuticals (NASDAQ:APLS) Given New $57.00 Price Target at JPMorgan Chase & Co.

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective lowered by JPMorgan Chase & Co. from $64.00 to $57.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also weighed in on APLS. Needham & Company LLC reaffirmed a buy rating and set a $85.00 price objective on shares of Apellis Pharmaceuticals in a research report on Friday, August 9th. 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 report on Thursday, May 23rd. Piper Sandler started coverage on Apellis Pharmaceuticals in a report on Friday, May 31st. They set a neutral rating and a $46.00 price target on the stock. Robert W. Baird upped their price target on shares of Apellis Pharmaceuticals from $86.00 to $96.00 and gave the company an outperform rating in a research report on Friday, August 9th. Finally, The Goldman Sachs Group upped their target price on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a buy rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $71.67.

Apellis Pharmaceuticals Trading Down 3.5 %

Shares of APLS stock opened at $36.31 on Friday. The business has a 50-day moving average of $38.13 and a 200 day moving average of $44.31. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. Apellis Pharmaceuticals has a 1-year low of $33.49 and a 1-year high of $73.80. The stock has a market capitalization of $4.42 billion, a PE ratio of -10.49 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $199.70 million during the quarter, compared to analysts’ expectations of $190.89 million. During the same quarter in the prior year, the company posted ($1.02) EPS. The firm’s revenue for the quarter was up 110.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.29 earnings per share for the current year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $39.24, for a total transaction of $1,451,880.00. Following the sale, the director now directly owns 136,998 shares of the company’s stock, valued at $5,375,801.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of institutional investors have recently modified their holdings of APLS. Future Financial Wealth Managment LLC purchased a new position in shares of Apellis Pharmaceuticals during the first quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Apellis Pharmaceuticals in the first quarter worth about $89,000. nVerses Capital LLC raised its stake in shares of Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after buying an additional 2,100 shares during the period. CWM LLC increased its stake in Apellis Pharmaceuticals by 299.9% during the 2nd quarter. CWM LLC now owns 4,151 shares of the company’s stock worth $159,000 after buying an additional 3,113 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in shares of Apellis Pharmaceuticals in the fourth quarter valued at about $205,000. 96.29% of the stock is owned by hedge funds and other institutional investors.

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).