Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Lowered to $32.00 at Piper Sandler

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective reduced by Piper Sandler from $40.00 to $32.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

APLS has been the subject of a number of other research reports. William Blair began coverage on shares of Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued an “outperform” rating for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $25.00 target price on shares of Apellis Pharmaceuticals in a research report on Monday, November 4th. Wedbush lifted their price target on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Finally, 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. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Apellis Pharmaceuticals Trading Up 4.3 %

Shares of NASDAQ APLS opened at $29.98 on Wednesday. The company has a quick ratio of 4.18, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals has a 12 month low of $24.34 and a 12 month high of $73.80. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -14.77 and a beta of 0.87. The business has a fifty day simple moving average of $31.02 and a 200-day simple moving average of $36.94.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm had revenue of $196.83 million for the quarter, compared to analysts’ expectations of $200.00 million. During the same period in the prior year, the company posted ($1.17) earnings per share. Apellis Pharmaceuticals’s quarterly revenue was up 78.3% compared to the same quarter last year. Sell-side analysts predict that Apellis Pharmaceuticals will post -1.5 EPS for the current year.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction 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 transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $3,623,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its stake in shares of Apellis Pharmaceuticals by 191.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock worth $61,845,000 after buying an additional 1,409,707 shares during the last quarter. Fiera Capital Corp raised its holdings in Apellis Pharmaceuticals by 47.7% in 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 during the period. Iron Triangle Partners LP bought a new position in Apellis Pharmaceuticals in the 1st quarter worth $32,329,000. Bank of New York Mellon Corp lifted its position in Apellis Pharmaceuticals by 6.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 345,195 shares of the company’s stock worth $13,242,000 after acquiring an additional 22,273 shares during the last quarter. Finally, Altitude Crest Partners Inc. boosted its holdings in Apellis Pharmaceuticals by 88.7% during the first quarter. Altitude Crest Partners Inc. now owns 287,277 shares of the company’s stock valued at $16,886,000 after acquiring an additional 135,077 shares during the period. 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).