Apellis Pharmaceuticals (NASDAQ:APLS) Now Covered by Analysts at Scotiabank

Scotiabank assumed coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a report issued on Wednesday, Marketbeat Ratings reports. The firm issued a sector outperform rating and a $35.00 price target on the stock.

APLS has been the subject of several other research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. HC Wainwright lowered their price objective on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $85.00 target price on shares of Apellis Pharmaceuticals in a research note on Friday, September 20th. Robert W. Baird dropped their price target on Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apellis Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Apellis Pharmaceuticals Price Performance

Shares of APLS opened at $27.95 on Wednesday. Apellis Pharmaceuticals has a one year low of $26.28 and a one year high of $73.80. The stock’s fifty day moving average is $34.53 and its 200-day moving average is $39.92. 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 firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -8.08 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Thursday, August 1st. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.03. The firm had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $190.89 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. Apellis Pharmaceuticals’s quarterly revenue was up 110.2% on a year-over-year basis. During the same quarter last year, the company earned ($1.02) EPS. Equities analysts anticipate that Apellis Pharmaceuticals will post -1.37 EPS 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 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 directly owns 100,000 shares of the company’s stock, valued at $3,623,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Apellis Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. HighVista Strategies LLC raised its stake in shares of Apellis Pharmaceuticals by 4.1% in the 2nd quarter. HighVista Strategies LLC now owns 7,566 shares of the company’s stock valued at $290,000 after acquiring an additional 300 shares in the last quarter. Amalgamated Bank raised its position in shares of Apellis Pharmaceuticals by 5.4% in the second quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock valued at $268,000 after purchasing an additional 359 shares during the period. Simplicity Wealth LLC raised its position in shares of Apellis Pharmaceuticals by 0.6% in the second quarter. Simplicity Wealth LLC now owns 78,746 shares of the company’s stock valued at $3,021,000 after purchasing an additional 499 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Apellis Pharmaceuticals in the first quarter worth $29,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in Apellis Pharmaceuticals by 8.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,694 shares of the company’s stock worth $511,000 after acquiring an additional 664 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

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).