Needham & Company LLC Lowers Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $60.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target cut by analysts at Needham & Company LLC from $85.00 to $60.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 113.71% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. William Blair started coverage on Apellis Pharmaceuticals in a report on Wednesday, October 16th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. lowered their price target on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. UBS Group reduced their price objective on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Scotiabank initiated coverage on Apellis Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $35.00 price target for the company. Finally, HC Wainwright dropped their price objective on Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.18.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $28.08 on Wednesday. Apellis Pharmaceuticals has a 12 month low of $24.34 and a 12 month high of $73.80. The firm has a market capitalization of $3.42 billion, a PE ratio of -10.25 and a beta of 0.87. The company has a current ratio of 5.08, a quick ratio of 4.18 and a debt-to-equity ratio of 1.73. The firm has a fifty day simple moving average of $31.58 and a two-hundred day simple moving average of $37.26.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The business had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The firm’s revenue for the quarter was up 78.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.17) EPS. Analysts forecast that Apellis Pharmaceuticals will post -1.4 EPS for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals 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 in the company, valued at $3,623,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC bought a new stake in Apellis Pharmaceuticals during the third quarter valued at about $27,000. Capital Performance Advisors LLP bought a new position in shares of Apellis Pharmaceuticals in the third quarter worth approximately $56,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Apellis Pharmaceuticals in the first quarter worth $89,000. nVerses Capital LLC boosted 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 worth $107,000 after buying an additional 2,100 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Apellis Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock worth $130,000 after buying an additional 781 shares in the last quarter. Institutional investors 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).