Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Lowered to $60.00 at Needham & Company LLC

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective trimmed by Needham & Company LLC from $85.00 to $60.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also issued reports on the company. Wells Fargo & Company lowered their target price on Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 24th. The Goldman Sachs Group lifted their price objective on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their target price on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $25.00 price target on shares of Apellis Pharmaceuticals in a research report on Monday, November 4th. Finally, Mizuho cut their price objective on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.06.

Apellis Pharmaceuticals Stock Up 4.3 %

APLS stock opened at $29.98 on Wednesday. The firm’s 50-day moving average is $31.02 and its two-hundred day moving average is $36.94. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -14.77 and a beta of 0.87. Apellis Pharmaceuticals has a 52 week low of $24.34 and a 52 week high of $73.80. The company has a current ratio of 4.36, a quick ratio of 4.18 and a debt-to-equity ratio of 1.91.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its 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 return on equity of 103.11% and a negative net margin of 34.97%. The firm had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same period in the previous year, the firm earned ($1.17) EPS. Apellis Pharmaceuticals’s revenue for the quarter was up 78.3% on a year-over-year basis. On average, analysts forecast that Apellis Pharmaceuticals will post -1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals 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 approximately $3,623,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 and hedge funds have recently bought and sold shares of the stock. Wolverine Asset Management LLC bought a new stake in Apellis Pharmaceuticals in the 3rd quarter valued at $27,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Apellis Pharmaceuticals during the 1st quarter worth about $89,000. Capital Performance Advisors LLP acquired a new position in shares of Apellis Pharmaceuticals during the third quarter valued at about $56,000. KBC Group NV raised its position in shares of Apellis Pharmaceuticals by 34.8% during the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after buying an additional 679 shares during the last quarter. Finally, nVerses Capital LLC lifted its stake in shares of Apellis Pharmaceuticals by 300.0% in the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after buying an additional 2,100 shares during the period. Institutional investors own 96.29% of the company’s stock.

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).