Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLSGet Free Report) have received an average recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $74.38.

Several brokerages have recently issued reports on APLS. Wells Fargo & Company reduced their price objective on Apellis Pharmaceuticals from $57.00 to $48.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Wedbush dropped their target price on Apellis Pharmaceuticals from $67.00 to $57.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Mizuho dropped their target price on Apellis Pharmaceuticals from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Piper Sandler assumed coverage on Apellis Pharmaceuticals in a report on Friday, May 31st. They set a “neutral” rating and a $46.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th.

Read Our Latest Stock Report on Apellis Pharmaceuticals

Apellis Pharmaceuticals Trading Up 3.3 %

Shares of NASDAQ:APLS opened at $41.70 on Tuesday. Apellis Pharmaceuticals has a 52-week low of $19.83 and a 52-week high of $94.75. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of -12.05 and a beta of 0.95. The company has a quick ratio of 3.02, a current ratio of 3.77 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $46.14 and a 200-day moving average price of $56.44.

Apellis Pharmaceuticals (NASDAQ:APLSGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.54). Apellis Pharmaceuticals had a negative return on equity of 160.77% and a negative net margin of 79.67%. The firm had revenue of $172.33 million during the quarter, compared to analysts’ expectations of $163.37 million. During the same period last year, the business posted ($1.56) earnings per share. The company’s revenue for the quarter was up 284.3% compared to the same quarter last year. Equities analysts predict that Apellis Pharmaceuticals will post -1.15 EPS for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, CFO Timothy Eugene Sullivan sold 4,000 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $58.66, for a total value of $234,640.00. Following the sale, the chief financial officer now directly owns 93,338 shares of the company’s stock, valued at $5,475,207.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Pascal Deschatelets sold 78,907 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $42.35, for a total value of $3,341,711.45. Following the sale, the insider now directly owns 1,115,983 shares of the company’s stock, valued at $47,261,880.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Eugene Sullivan sold 4,000 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $58.66, for a total value of $234,640.00. Following the completion of the sale, the chief financial officer now directly owns 93,338 shares in the company, valued at $5,475,207.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,012 shares of company stock valued at $9,608,319. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in Apellis Pharmaceuticals by 109.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,145,004 shares of the company’s stock worth $128,400,000 after buying an additional 1,121,497 shares during the last quarter. Norges Bank acquired a new position in Apellis Pharmaceuticals during the fourth quarter worth $56,640,000. Price T Rowe Associates Inc. MD boosted its stake in Apellis Pharmaceuticals by 38.0% during 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 last quarter. Polar Capital Holdings Plc boosted its stake in Apellis Pharmaceuticals by 126.6% during the third quarter. Polar Capital Holdings Plc now owns 1,053,875 shares of the company’s stock worth $40,089,000 after buying an additional 588,875 shares during the last quarter. Finally, Iron Triangle Partners LP acquired a new position in Apellis Pharmaceuticals during the first quarter worth $32,329,000. 96.29% of the stock is owned by institutional investors and hedge funds.

About Apellis Pharmaceuticals

(Get Free Report

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).

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Analyst Recommendations for Apellis Pharmaceuticals (NASDAQ:APLS)

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