Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Raised to $54.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price hoisted by JPMorgan Chase & Co. from $50.00 to $54.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

APLS has been the topic of a number of other research reports. Wells Fargo & Company dropped their price target on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Scotiabank dropped their target price on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Robert W. Baird reduced their price target on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Morgan Stanley started coverage on shares of Apellis Pharmaceuticals in a research report on Thursday, November 21st. They issued an “equal weight” rating and a $31.00 price target for the company. Finally, Bank of America cut their price objective on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Apellis Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $45.53.

Apellis Pharmaceuticals Price Performance

Apellis Pharmaceuticals stock opened at $25.32 on Tuesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -12.47 and a beta of 0.93. The firm has a 50-day moving average of $29.38 and a two-hundred day moving average of $31.26. Apellis Pharmaceuticals has a 1 year low of $23.77 and a 1 year high of $63.40.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.08. The firm had revenue of $212.50 million during the quarter, compared to analyst estimates of $197.92 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. Apellis Pharmaceuticals’s quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.73) earnings per share. On average, research analysts forecast that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 5,569 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $25.10, for a total value of $139,781.90. Following the completion of the sale, the general counsel now owns 138,730 shares of the company’s stock, valued at approximately $3,482,123. This trade represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James George Chopas sold 1,096 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total transaction of $33,351.28. Following the transaction, the chief accounting officer now owns 48,138 shares in the company, valued at approximately $1,464,839.34. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,934 shares of company stock worth $1,950,261 in the last ninety days. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in APLS. EverSource Wealth Advisors LLC increased its position in shares of Apellis Pharmaceuticals by 2,707.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after acquiring an additional 758 shares during the period. Wolverine Asset Management LLC purchased a new stake in Apellis Pharmaceuticals during the 3rd quarter valued at about $27,000. True Wealth Design LLC acquired a new position in shares of Apellis Pharmaceuticals in the third quarter valued at about $27,000. Signaturefd LLC raised its stake in shares of Apellis Pharmaceuticals by 357.2% in the fourth quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock worth $37,000 after purchasing an additional 918 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Apellis Pharmaceuticals during the third quarter worth about $56,000. 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).