Apellis Pharmaceuticals (NASDAQ:APLS) Earns “Outperform” Rating from Robert W. Baird

Robert W. Baird reissued their outperform rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a report issued on Friday, Benzinga reports. Robert W. Baird currently has a $100.00 target price on the stock.

A number of other analysts have also recently weighed in on the stock. Piper Sandler started coverage on shares of Apellis Pharmaceuticals in a report on Friday, May 31st. They set a neutral rating and a $46.00 target price for the company. HC Wainwright restated a buy rating and issued a $92.00 target price on shares of Apellis Pharmaceuticals in a report on Tuesday, May 28th. Wedbush reduced their target price on Apellis Pharmaceuticals from $67.00 to $57.00 and set a neutral rating for the company in a report on Wednesday, April 17th. Wells Fargo & Company decreased their price target on Apellis Pharmaceuticals from $57.00 to $48.00 and set an equal weight rating for the company in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an overweight rating in a report on Wednesday, March 6th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $75.56.

Apellis Pharmaceuticals Stock Down 7.6 %

APLS opened at $38.36 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.02 and a current ratio of 3.77. The company has a market capitalization of $4.66 billion, a PE ratio of -11.09 and a beta of 0.95. The stock’s fifty day moving average is $42.60 and its 200-day moving average is $54.82. Apellis Pharmaceuticals has a one year low of $19.83 and a one year high of $92.22.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.54) EPS for the quarter, hitting the consensus estimate of ($0.54). Apellis Pharmaceuticals had a negative net margin of 79.67% and a negative return on equity of 160.77%. The firm had revenue of $172.33 million for the quarter, compared to analysts’ expectations of $163.37 million. During the same period in the previous year, the business earned ($1.56) earnings per share. Apellis Pharmaceuticals’s revenue for the quarter was up 284.3% compared to the same quarter last year. On average, equities analysts predict that Apellis Pharmaceuticals will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s 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 approximately $5,375,801.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction 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 transaction, the director now owns 136,998 shares in the company, valued at approximately $5,375,801.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Timothy Eugene Sullivan sold 4,000 shares of Apellis Pharmaceuticals stock in a transaction on Monday, April 1st. The shares were sold at an average price of $58.66, for a total transaction of $234,640.00. Following the completion of the sale, the chief financial officer now directly owns 93,338 shares of the company’s stock, valued at approximately $5,475,207.08. The disclosure for this sale can be found here. Insiders have sold 189,014 shares of company stock worth $8,771,758 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in Apellis Pharmaceuticals by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 904,409 shares of the company’s stock worth $54,138,000 after purchasing an additional 25,052 shares during the period. Norges Bank bought a new stake in shares of Apellis Pharmaceuticals during the 4th quarter worth $56,640,000. Great Lakes Advisors LLC bought a new stake in shares of Apellis Pharmaceuticals during the 4th quarter worth $12,461,000. Bellevue Group AG grew its stake in Apellis Pharmaceuticals by 3.5% in the 4th quarter. Bellevue Group AG now owns 821,800 shares of the company’s stock valued at $49,193,000 after buying an additional 27,959 shares during the last quarter. Finally, abrdn plc bought a new position in Apellis Pharmaceuticals in the 4th quarter worth $10,119,000. 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).