Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $83.00 by Analysts at HC Wainwright

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective lowered by HC Wainwright from $92.00 to $83.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on APLS. Citigroup cut their target price on Apellis Pharmaceuticals from $67.00 to $60.00 and set a buy rating on the stock in a report on Wednesday, May 8th. UBS Group cut their target price on Apellis Pharmaceuticals from $89.00 to $85.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Piper Sandler started coverage on Apellis Pharmaceuticals in a report on Friday, May 31st. They issued a neutral rating and a $46.00 target price on the stock. The Goldman Sachs Group cut their target price on Apellis Pharmaceuticals from $77.00 to $66.00 and set a buy rating on the stock in a report on Friday. Finally, Robert W. Baird reiterated an outperform rating and issued a $100.00 target price on shares of Apellis Pharmaceuticals in a report on Tuesday, July 23rd. 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 stock. According to MarketBeat.com, Apellis Pharmaceuticals has a consensus rating of Moderate Buy and a consensus target price of $73.50.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $33.89 on Friday. The company has a market cap of $4.11 billion, a price-to-earnings ratio of -9.94 and a beta of 0.88. Apellis Pharmaceuticals has a 52 week low of $19.83 and a 52 week high of $73.80. The company has a quick ratio of 3.02, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. The firm has a 50 day moving average of $39.20 and a 200-day moving average of $50.53.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. The company 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 company’s quarterly revenue was up 110.2% on a year-over-year basis. During the same quarter last year, the firm posted ($1.02) EPS. On average, equities analysts forecast that Apellis Pharmaceuticals will post -1.14 earnings per share for the current year.

Insider Activity at Apellis Pharmaceuticals

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

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of institutional investors have recently made changes to their positions in APLS. Future Financial Wealth Managment LLC bought a new position in shares of Apellis Pharmaceuticals during the 1st quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Apellis Pharmaceuticals in the 1st quarter worth $89,000. nVerses Capital LLC grew 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 last quarter. CWM LLC grew its holdings in Apellis Pharmaceuticals by 299.9% in the 2nd quarter. CWM LLC now owns 4,151 shares of the company’s stock worth $159,000 after acquiring an additional 3,113 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Apellis Pharmaceuticals in the 4th quarter worth about $205,000. 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).