Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Lowered to $47.00 at Bank of America

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target decreased by Bank of America from $61.00 to $47.00 in a research note published on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other brokerages have also recently commented on APLS. Scotiabank initiated coverage on shares of Apellis Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $35.00 target price on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $25.00 price objective on shares of Apellis Pharmaceuticals in a research note on Monday, November 4th. Wells Fargo & Company cut their target price on Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 24th. Robert W. Baird decreased their price target 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, The Goldman Sachs Group boosted their price target on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.06.

Apellis Pharmaceuticals Trading Up 4.3 %

APLS stock opened at $29.98 on Wednesday. Apellis Pharmaceuticals has a one year low of $24.34 and a one year high of $73.80. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -14.77 and a beta of 0.87. The company has a fifty day moving average price of $31.02 and a two-hundred day moving average price of $36.94. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 4.18.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate 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 business had revenue of $196.83 million during the quarter, compared to analyst estimates of $200.00 million. During the same quarter last year, the company posted ($1.17) earnings per share. The company’s revenue was up 78.3% on a year-over-year basis. Equities analysts anticipate that Apellis Pharmaceuticals will post -1.5 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 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 owns 100,000 shares in the company, valued at approximately $3,623,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 bought and sold shares of APLS. Landscape Capital Management L.L.C. purchased a new stake in shares of Apellis Pharmaceuticals in the third quarter worth $776,000. KBC Group NV lifted its holdings in Apellis Pharmaceuticals by 34.8% in the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after purchasing an additional 679 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Apellis Pharmaceuticals in the 3rd quarter worth approximately $824,000. Wolverine Asset Management LLC bought a new position in Apellis Pharmaceuticals in the 3rd quarter worth approximately $27,000. Finally, State of New Jersey Common Pension Fund D grew its holdings in Apellis Pharmaceuticals by 10.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 49,795 shares of the company’s stock valued at $1,436,000 after buying an additional 4,554 shares in the last quarter. 96.29% of the stock is owned by 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).