Apellis Pharmaceuticals (NASDAQ:APLS) Sets New 1-Year Low Following Weak Earnings

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)’s share price reached a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $25.25 and last traded at $26.42, with a volume of 548054 shares changing hands. The stock had previously closed at $28.56.

The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The company had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same quarter in the previous year, the company posted ($1.17) EPS. The company’s revenue for the quarter was up 78.3% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on APLS. UBS Group decreased their price objective on Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating for the company in a report on Friday, August 9th. Needham & Company LLC dropped their price objective on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America decreased their target price on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday. Robert W. Baird dropped their price target on shares of Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.24.

Insider Activity

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the sale, the director now directly owns 100,000 shares in the company, valued at $3,623,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Apellis Pharmaceuticals in the first quarter worth approximately $3,218,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Apellis Pharmaceuticals in the first quarter valued at about $89,000. Oppenheimer Asset Management Inc. boosted its stake in Apellis Pharmaceuticals by 8.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,694 shares of the company’s stock worth $511,000 after buying an additional 664 shares during the period. Lisanti Capital Growth LLC increased its position in shares of Apellis Pharmaceuticals by 92.7% during the first quarter. Lisanti Capital Growth LLC now owns 89,210 shares of the company’s stock valued at $5,244,000 after acquiring an additional 42,905 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Apellis Pharmaceuticals by 57.4% in the 1st quarter. Sei Investments Co. now owns 39,864 shares of the company’s stock valued at $2,343,000 after acquiring an additional 14,531 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

Apellis Pharmaceuticals Stock Performance

The company has a current ratio of 5.08, a quick ratio of 4.18 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -10.52 and a beta of 0.87. The firm’s fifty day moving average price is $31.39 and its 200 day moving average price is $37.20.

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).