Apellis Pharmaceuticals (NASDAQ:APLS) Given New $30.00 Price Target at Wells Fargo & Company

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price cut by investment analysts at Wells Fargo & Company from $43.00 to $30.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 4.38% from the company’s previous close.

Several other analysts have also issued reports on APLS. Bank of America lowered their target price on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday. William Blair started coverage on Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued an “outperform” rating on the stock. HC Wainwright lowered their target price on Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday. Mizuho lowered their target price on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Finally, Wedbush boosted their target price on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Apellis Pharmaceuticals Trading Down 0.3 %

APLS stock opened at $28.74 on Wednesday. The stock’s fifty day simple moving average is $31.19 and its two-hundred day simple moving average is $37.14. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. Apellis Pharmaceuticals has a 1-year low of $24.34 and a 1-year high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The business had revenue of $196.83 million during the quarter, compared to analysts’ expectations of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm’s revenue for the quarter was up 78.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.17) EPS. On average, equities analysts expect that Apellis Pharmaceuticals will post -1.4 EPS for the current year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction dated 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in APLS. Mirae Asset Global Investments Co. Ltd. bought a new position in Apellis Pharmaceuticals in the 1st quarter worth about $3,218,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Apellis Pharmaceuticals in the 1st quarter worth about $89,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Apellis Pharmaceuticals by 8.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,694 shares of the company’s stock worth $511,000 after purchasing an additional 664 shares in the last quarter. Lisanti Capital Growth LLC boosted its holdings in shares of Apellis Pharmaceuticals by 92.7% in the 1st quarter. Lisanti Capital Growth LLC now owns 89,210 shares of the company’s stock worth $5,244,000 after purchasing an additional 42,905 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings 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 worth $2,343,000 after purchasing an additional 14,531 shares in 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).