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

Apellis Pharmaceuticals (NASDAQ:APLS)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They currently have a $85.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 136.11% from the stock’s current price.

A number of other brokerages also recently commented on APLS. UBS Group reduced their price objective on shares of Apellis Pharmaceuticals from $89.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Mizuho dropped their price objective on Apellis Pharmaceuticals from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Citigroup reduced their target price on shares of Apellis Pharmaceuticals from $67.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. HC Wainwright reissued a “buy” rating and set a $92.00 price target on shares of Apellis Pharmaceuticals in a research report on Tuesday, May 28th. Finally, Wedbush cut their price objective on shares of Apellis Pharmaceuticals from $67.00 to $57.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.75.

Apellis Pharmaceuticals Trading Down 9.1 %

APLS stock opened at $36.00 on Friday. The company has a market capitalization of $4.37 billion, a PE ratio of -10.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.77 and a quick ratio of 3.02. Apellis Pharmaceuticals has a 12 month low of $19.83 and a 12 month high of $73.80. The firm’s 50-day moving average is $39.28 and its 200 day moving average is $50.98.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Tuesday, May 7th. The company reported ($0.54) earnings per share 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 business had revenue of $172.33 million during the quarter, compared to analysts’ expectations of $163.37 million. During the same period in the prior year, the business earned ($1.56) EPS. The business’s revenue for the quarter was up 284.3% compared to the same quarter last year. On average, research analysts anticipate that Apellis Pharmaceuticals will post -1.14 EPS for the current year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $39.24, for a total transaction of $1,451,880.00. Following the sale, the director now owns 136,998 shares in the company, valued at approximately $5,375,801.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $39.24, for a total transaction of $1,451,880.00. Following the completion of the transaction, the director now directly owns 136,998 shares of the company’s stock, valued at approximately $5,375,801.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pascal Deschatelets sold 78,907 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $42.35, for a total transaction of $3,341,711.45. Following the completion of the sale, the insider now directly owns 1,115,983 shares in the company, valued at $47,261,880.05. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

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