Apellis Pharmaceuticals (NASDAQ:APLS) PT Raised to $96.00 at Robert W. Baird

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price hoisted by Robert W. Baird from $86.00 to $96.00 in a research report released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued reports about the company. Citigroup cut their price target on Apellis Pharmaceuticals from $67.00 to $60.00 and set a buy rating on the stock in a report on Wednesday, May 8th. The Goldman Sachs Group raised their price objective on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a buy rating in a research report on Friday. Wedbush reduced their target price on shares of Apellis Pharmaceuticals from $67.00 to $57.00 and set a neutral rating for the company in a report on Wednesday, April 17th. Jefferies Financial Group reissued a buy rating and set a $80.00 price target on shares of Apellis Pharmaceuticals in a research report on Wednesday, July 31st. Finally, HC Wainwright cut their price objective on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a buy rating on the stock in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned 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 $72.63.

Apellis Pharmaceuticals Stock Down 1.7 %

Apellis Pharmaceuticals stock traded down $0.65 during midday trading on Friday, hitting $37.01. 1,885,232 shares of the company’s stock were exchanged, compared to its average volume of 1,541,113. The company has a debt-to-equity ratio of 1.73, a quick ratio of 3.02 and a current ratio of 5.08. The company has a market cap of $4.49 billion, a PE ratio of -10.70 and a beta of 0.88. The firm has a 50-day moving average of $38.70 and a two-hundred day moving average of $49.60. Apellis Pharmaceuticals has a 12 month low of $23.86 and a 12 month high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.03. The firm had revenue of $199.70 million during the quarter, compared to analysts’ expectations of $190.89 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The company’s revenue was up 110.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.02) EPS. As a group, analysts expect that Apellis Pharmaceuticals will post -1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $39.24, for a total value of $1,451,880.00. Following the transaction, the director now directly owns 136,998 shares of the company’s stock, valued at $5,375,801.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in APLS. Norges Bank acquired a new stake in Apellis Pharmaceuticals during the 4th quarter worth about $56,640,000. Price T Rowe Associates Inc. MD raised its position 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 valued at $147,277,000 after acquiring an additional 677,098 shares in the last quarter. Iron Triangle Partners LP acquired a new position in Apellis Pharmaceuticals in the first quarter valued at approximately $32,329,000. Fiera Capital Corp boosted its position in Apellis Pharmaceuticals by 47.7% in the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock worth $53,750,000 after purchasing an additional 452,753 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. boosted its position in 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 worth $52,986,000 after purchasing an additional 271,122 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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).