Apellis Pharmaceuticals (NASDAQ:APLS) Hits New 12-Month Low – Here’s Why

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $26.67 and last traded at $26.69, with a volume of 675431 shares. The stock had previously closed at $27.40.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on APLS. Wells Fargo & Company decreased their price objective on Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Mizuho cut their target price on shares of Apellis Pharmaceuticals from $42.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, September 20th. Needham & Company LLC restated a “buy” rating and set a $85.00 price target on shares of Apellis Pharmaceuticals in a research report on Friday, September 20th. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a research report on Wednesday, July 31st. Finally, Robert W. Baird dropped their target price on Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apellis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Apellis Pharmaceuticals Stock Down 1.8 %

The firm has a 50-day moving average of $35.55 and a two-hundred day moving average of $41.09. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $3.26 billion, a PE ratio of -7.71 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm had revenue of $199.70 million during the quarter, compared to the consensus estimate of $190.89 million. During the same period last year, the company earned ($1.02) EPS. The company’s quarterly revenue was up 110.2% on a year-over-year basis. Equities research analysts predict that Apellis Pharmaceuticals, Inc. will post -1.34 earnings per share for the current fiscal year.

Insider Transactions at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals 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 directly owns 100,000 shares in the company, valued at $3,623,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in Apellis Pharmaceuticals by 38.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,460,339 shares of the company’s stock worth $147,277,000 after purchasing an additional 677,098 shares during the last quarter. Iron Triangle Partners LP purchased a new stake in shares of Apellis Pharmaceuticals during the 1st quarter worth approximately $32,329,000. Fiera Capital Corp raised its stake in Apellis Pharmaceuticals by 47.7% during the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock worth $53,750,000 after acquiring an additional 452,753 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its stake in Apellis Pharmaceuticals by 44.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 885,165 shares of the company’s stock valued at $52,986,000 after acquiring an additional 271,122 shares in the last quarter. Finally, Eventide Asset Management LLC purchased a new position in shares of Apellis Pharmaceuticals during the fourth quarter worth about $12,558,000. 96.29% of the stock is owned by institutional investors and hedge funds.

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).