Royal Bank of Canada Reaffirms Sector Perform Rating for Apellis Pharmaceuticals (NASDAQ:APLS)

Apellis Pharmaceuticals (NASDAQ:APLS)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a report released on Monday, Benzinga reports. They presently have a $25.00 target price on the stock. Royal Bank of Canada’s price objective would suggest a potential downside of 15.34% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Evercore ISI upgraded shares of Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of Apellis Pharmaceuticals in a research report on Friday, September 20th. Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price target on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Robert W. Baird reduced their price target on shares of Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Finally, Mizuho lowered their price objective on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apellis Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $65.41.

Apellis Pharmaceuticals Trading Up 5.5 %

Apellis Pharmaceuticals stock traded up $1.55 during mid-day trading on Monday, hitting $29.53. 791,381 shares of the stock were exchanged, compared to its average volume of 1,688,666. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -10.48 and a beta of 0.87. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. Apellis Pharmaceuticals has a 12 month low of $26.28 and a 12 month high of $73.80. The firm’s fifty day simple moving average is $32.04 and its two-hundred day simple moving average is $37.53.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Thursday, August 1st. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The business had revenue of $199.70 million during the quarter, compared to analyst estimates of $190.89 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm’s revenue was up 110.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.02) EPS. Analysts forecast that Apellis Pharmaceuticals will post -1.4 EPS for the current year.

Insiders Place Their Bets

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Apellis Pharmaceuticals in the third quarter valued at approximately $56,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Apellis Pharmaceuticals during the 1st quarter valued at $89,000. nVerses Capital LLC lifted its holdings in Apellis Pharmaceuticals by 300.0% in the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after purchasing an additional 2,100 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Apellis Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock worth $130,000 after acquiring an additional 781 shares during the last quarter. Finally, CWM LLC grew its position in shares of Apellis Pharmaceuticals by 299.9% in the second quarter. CWM LLC now owns 4,151 shares of the company’s stock valued at $159,000 after purchasing an additional 3,113 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).