Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Lowered to $43.00 at Wells Fargo & Company

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective reduced by investment analysts at Wells Fargo & Company from $47.00 to $43.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 40.57% from the company’s previous close.

Several other research analysts have also recently commented on APLS. HC Wainwright reduced their price target on Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group increased their price objective on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a “buy” rating in a report on Friday, August 9th. Jefferies Financial Group restated a “buy” rating and set a $80.00 target price on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Piper Sandler started coverage on shares of Apellis Pharmaceuticals in a research note on Friday, May 31st. They issued a “neutral” rating and a $46.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Apellis Pharmaceuticals in a research note on Friday, September 20th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Apellis Pharmaceuticals Trading Down 0.5 %

NASDAQ APLS opened at $30.59 on Tuesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. The stock’s 50-day moving average is $37.34 and its 200-day moving average is $43.01. Apellis Pharmaceuticals has a one year low of $30.23 and a one year high of $73.80. The firm has a market cap of $3.72 billion, a P/E ratio of -8.84 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its 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. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm 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 earned ($1.02) EPS. The company’s revenue was up 110.2% on a year-over-year basis. Sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.34 earnings per share for the current fiscal year.

Insider Activity

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction dated 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 in the company, valued at approximately $3,623,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Apellis Pharmaceuticals

Large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Apellis Pharmaceuticals during the 4th quarter worth approximately $56,640,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Apellis Pharmaceuticals in the 1st quarter valued at $3,218,000. Bellevue Group AG raised its holdings in shares of Apellis Pharmaceuticals by 3.5% during the 4th quarter. Bellevue Group AG now owns 821,800 shares of the company’s stock worth $49,193,000 after buying an additional 27,959 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Apellis Pharmaceuticals during the 1st quarter worth $942,000. Finally, Altitude Crest Partners Inc. acquired a new stake in Apellis Pharmaceuticals in the fourth quarter valued at about $9,111,000. 96.29% of the stock is 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).