Royal Bank of Canada Reiterates “Sector Perform” Rating for Apellis Pharmaceuticals (NASDAQ:APLS)

Apellis Pharmaceuticals (NASDAQ:APLS)‘s stock had its “sector perform” rating reissued by equities research analysts at Royal Bank of Canada in a research note issued on Monday, Benzinga reports. They presently have a $25.00 price objective on the stock. Royal Bank of Canada’s target price would suggest a potential downside of 10.95% from the stock’s current price.

Other research analysts also recently issued reports about the company. Evercore ISI raised Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. UBS Group dropped their price target on Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. HC Wainwright lowered their price objective on Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird lowered their price objective 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. Finally, Mizuho lowered their price objective on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apellis Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $65.41.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS opened at $28.08 on Monday. 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 business’s 50 day moving average is $31.58 and its two-hundred day moving average is $37.26. The company has a market cap of $3.42 billion, a P/E ratio of -10.25 and a beta of 0.87. Apellis Pharmaceuticals has a 12 month low of $24.34 and a 12 month high of $73.80.

Insider Activity

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $3,623,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of APLS. Wolverine Asset Management LLC acquired a new position in shares of Apellis Pharmaceuticals during the third quarter valued at $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Apellis Pharmaceuticals during the 1st quarter valued at about $89,000. Capital Performance Advisors LLP bought a new position in shares of Apellis Pharmaceuticals in the 3rd quarter valued at about $56,000. nVerses Capital LLC grew 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 buying an additional 2,100 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Apellis Pharmaceuticals by 1,300.8% during the first quarter. Russell Investments Group Ltd. now owns 3,586 shares of the company’s stock worth $211,000 after buying an additional 3,330 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

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).