Apellis Pharmaceuticals (NASDAQ:APLS) Given New $47.00 Price Target at Bank of America

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective cut by Bank of America from $61.00 to $47.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. William Blair began coverage on shares of Apellis Pharmaceuticals in a report on Wednesday, October 16th. They issued an “outperform” rating on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 target price on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. The Goldman Sachs Group boosted their price target on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Mizuho decreased their price objective on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $25.00 price objective on shares of Apellis Pharmaceuticals in a research report on Monday. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.24.

Apellis Pharmaceuticals Stock Performance

NASDAQ APLS opened at $28.83 on Wednesday. The business has a 50 day moving average price of $31.39 and a 200 day moving average price of $37.20. 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 company has a market capitalization of $3.51 billion, a P/E ratio of -10.52 and a beta of 0.87. Apellis Pharmaceuticals has a 1-year low of $24.34 and a 1-year high of $73.80.

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

Insider Activity

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’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 transaction, the director now owns 100,000 shares in the company, valued at approximately $3,623,000. This trade represents a 0.00 % decrease in their ownership of the stock. 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 Trading of Apellis Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC purchased a new position in Apellis Pharmaceuticals in the third quarter valued at about $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Apellis Pharmaceuticals in the third quarter valued at about $56,000. KBC Group NV raised its holdings in shares of Apellis Pharmaceuticals by 34.8% during the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after buying an additional 679 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Apellis Pharmaceuticals during the 1st quarter worth approximately $89,000. Finally, 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 acquiring an additional 2,100 shares during the period. 96.29% of the stock is 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).