Mizuho Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $39.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target reduced by Mizuho from $42.00 to $39.00 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages also recently weighed in on APLS. HC Wainwright reduced their price objective on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a buy rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an overweight rating for the company in a research report on Friday, September 13th. The Goldman Sachs Group boosted their price objective on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a buy rating in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a buy rating and issued a $85.00 target price on shares of Apellis Pharmaceuticals in a report on Friday. Finally, UBS Group cut their target price on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a buy rating on the stock in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $70.80.

Apellis Pharmaceuticals Stock Down 11.5 %

Shares of Apellis Pharmaceuticals stock opened at $32.51 on Friday. Apellis Pharmaceuticals has a 52-week low of $31.00 and a 52-week high of $73.80. The company has a 50 day moving average of $37.87 and a 200 day moving average of $43.53. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $3.95 billion, a P/E ratio of -9.40 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. The company had revenue of $199.70 million during the quarter, compared to the consensus estimate of $190.89 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The firm’s quarterly revenue was up 110.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.02) earnings per share. As a group, research analysts forecast that Apellis Pharmaceuticals will post -1.29 EPS for the current fiscal year.

Insider Transactions at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Apellis Pharmaceuticals by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 9,555,678 shares of the company’s stock worth $572,003,000 after buying an additional 85,701 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Apellis Pharmaceuticals by 38.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,460,339 shares of the company’s stock valued at $147,277,000 after purchasing an additional 677,098 shares in the last quarter. Fiera Capital Corp lifted its holdings in Apellis Pharmaceuticals by 47.7% in the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock valued at $53,750,000 after purchasing an additional 452,753 shares in the last quarter. Norges Bank purchased a new position in Apellis Pharmaceuticals in the 4th quarter valued at about $56,640,000. Finally, Frazier Life Sciences Management L.P. lifted its holdings in Apellis Pharmaceuticals by 44.2% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 885,165 shares of the company’s stock valued at $52,986,000 after purchasing an additional 271,122 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

About Apellis Pharmaceuticals

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).