Wells Fargo & Company Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $30.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective decreased by analysts at Wells Fargo & Company from $43.00 to $30.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 5.15% from the company’s previous close.

A number of other equities analysts have also weighed in on APLS. Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Needham & Company LLC reduced their price objective on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday. William Blair began coverage on shares of Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They set an “outperform” rating for the company. Robert W. Baird reduced their price objective on shares of Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Finally, Scotiabank assumed coverage on shares of Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $35.00 price objective for the company. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Apellis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $56.29.

Apellis Pharmaceuticals Trading Up 1.6 %

Shares of Apellis Pharmaceuticals stock traded up $0.45 on Wednesday, hitting $28.53. 553,138 shares of the company’s stock traded hands, compared to its average volume of 1,764,245. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. Apellis Pharmaceuticals has a one year low of $24.34 and a one year high of $73.80. The firm’s 50-day moving average price is $31.58 and its two-hundred day moving average price is $37.26. The stock has a market capitalization of $3.47 billion, a PE ratio of -10.32 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The firm had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. Apellis Pharmaceuticals’s quarterly revenue was up 78.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.17) EPS. On average, research analysts expect that Apellis Pharmaceuticals will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the sale, the director now owns 100,000 shares in the company, valued at approximately $3,623,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Apellis Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV boosted its position in Apellis Pharmaceuticals by 34.8% in the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after buying an additional 679 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Apellis Pharmaceuticals in the third quarter valued at approximately $824,000. Wolverine Asset Management LLC acquired a new stake in Apellis Pharmaceuticals in the third quarter valued at approximately $27,000. State of New Jersey Common Pension Fund D boosted its position in Apellis Pharmaceuticals by 10.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 49,795 shares of the company’s stock valued at $1,436,000 after buying an additional 4,554 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Apellis Pharmaceuticals by 6.6% in the third quarter. Assetmark Inc. now owns 46,065 shares of the company’s stock valued at $1,329,000 after buying an additional 2,852 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

About Apellis Pharmaceuticals

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).