JPMorgan Chase & Co. Trims Apellis Pharmaceuticals (NASDAQ:APLS) Target Price to $57.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target trimmed by JPMorgan Chase & Co. from $64.00 to $57.00 in a report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of 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. The Goldman Sachs Group raised their target price on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a buy rating in a research report on Friday, August 9th. Robert W. Baird lifted their price target on Apellis Pharmaceuticals from $86.00 to $96.00 and gave the stock an outperform rating in a research note on Friday, August 9th. Jefferies Financial Group reissued a buy rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Finally, HC Wainwright lowered their target price on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a buy rating on the stock in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $71.67.

Apellis Pharmaceuticals Stock Up 2.3 %

Shares of APLS opened at $37.62 on Friday. 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 firm has a market cap of $4.58 billion, a P/E ratio of -10.87 and a beta of 0.88. The stock’s 50 day moving average is $38.14 and its two-hundred day moving average is $44.63. Apellis Pharmaceuticals has a 12 month low of $33.49 and a 12 month high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results 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 analyst estimates of $190.89 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The firm’s revenue was up 110.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.02) EPS. Analysts predict that Apellis Pharmaceuticals will post -1.29 earnings per share for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In other 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 sale, the director now owns 136,998 shares in the company, valued at approximately $5,375,801.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of hedge funds have recently modified their holdings of APLS. Future Financial Wealth Managment LLC acquired a new position in Apellis Pharmaceuticals in the first quarter valued at about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Apellis Pharmaceuticals in the 1st quarter worth approximately $89,000. nVerses Capital LLC boosted its position in shares of Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after purchasing an additional 2,100 shares during the period. CWM LLC increased its holdings in Apellis Pharmaceuticals by 299.9% in the 2nd quarter. CWM LLC now owns 4,151 shares of the company’s stock valued at $159,000 after purchasing an additional 3,113 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in Apellis Pharmaceuticals in the 4th quarter valued at approximately $205,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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).