Apellis Pharmaceuticals (NASDAQ:APLS) Stock Rating Reaffirmed by Needham & Company LLC

Apellis Pharmaceuticals (NASDAQ:APLS)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued to investors on Friday, Benzinga reports. They currently have a $85.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 161.46% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. Piper Sandler started coverage on Apellis Pharmaceuticals in a research report on Friday, May 31st. They issued a “neutral” rating and a $46.00 target price on the stock. UBS Group reduced their target price 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. Robert W. Baird lifted their target price on Apellis Pharmaceuticals from $86.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. 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. Finally, Jefferies Financial Group reissued a “buy” rating and set a $80.00 price target on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.80.

Apellis Pharmaceuticals Stock Down 11.5 %

Shares of NASDAQ:APLS opened at $32.51 on Friday. Apellis Pharmaceuticals has a 12-month low of $31.00 and a 12-month high of $73.80. 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 market cap of $3.95 billion, a PE ratio of -9.40 and a beta of 0.88. The company has a fifty day simple moving average of $37.87 and a 200 day simple moving average of $43.65.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. The firm had revenue of $199.70 million during the quarter, compared to the consensus estimate of $190.89 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The firm’s revenue was up 110.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.02) earnings per share. On average, equities research analysts anticipate that Apellis Pharmaceuticals will post -1.29 EPS for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Apellis Pharmaceuticals in the 4th quarter valued at $56,640,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Apellis Pharmaceuticals by 38.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,460,339 shares of the company’s stock worth $147,277,000 after buying an additional 677,098 shares during the period. Iron Triangle Partners LP purchased a new position in shares of Apellis Pharmaceuticals in the first quarter worth approximately $32,329,000. Fiera Capital Corp increased its position in shares of Apellis Pharmaceuticals by 47.7% in the second quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock worth $53,750,000 after acquiring an additional 452,753 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. lifted its position in shares of Apellis Pharmaceuticals by 44.2% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 885,165 shares of the company’s stock valued at $52,986,000 after acquiring an additional 271,122 shares in the last quarter. 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).