Apellis Pharmaceuticals (NASDAQ:APLS) Given New $40.00 Price Target at Oppenheimer

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target trimmed by Oppenheimer from $65.00 to $40.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also weighed in on APLS. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 price objective on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. HC Wainwright lowered their price target on shares of Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company dropped their target price on Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 24th. Evercore ISI raised Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Finally, Bank of America decreased their target price on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.24.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ APLS opened at $28.83 on Wednesday. Apellis Pharmaceuticals has a fifty-two week low of $24.34 and a fifty-two week high of $73.80. The company has a market cap of $3.51 billion, a PE ratio of -10.52 and a beta of 0.87. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. The business has a 50-day simple moving average of $31.39 and a two-hundred day simple moving average of $37.20.

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

Insider Buying and Selling

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the sale, the director now owns 100,000 shares of the company’s stock, valued at $3,623,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several large investors have recently made changes to their positions in APLS. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Apellis Pharmaceuticals during the first quarter worth $3,218,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Apellis Pharmaceuticals during the 1st quarter worth about $89,000. Oppenheimer Asset Management Inc. boosted its holdings in Apellis Pharmaceuticals by 8.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,694 shares of the company’s stock valued at $511,000 after acquiring an additional 664 shares during the period. Lisanti Capital Growth LLC grew its position in Apellis Pharmaceuticals by 92.7% in the 1st quarter. Lisanti Capital Growth LLC now owns 89,210 shares of the company’s stock valued at $5,244,000 after acquiring an additional 42,905 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Apellis Pharmaceuticals by 57.4% during the first quarter. Sei Investments Co. now owns 39,864 shares of the company’s stock worth $2,343,000 after purchasing an additional 14,531 shares during the period. 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).