Citigroup Issues Pessimistic Forecast for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective trimmed by Citigroup from $63.00 to $51.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. HC Wainwright cut 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. The Goldman Sachs Group lowered their price target on Apellis Pharmaceuticals from $71.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday. Robert W. Baird dropped their price objective on Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating for the company in a report on Monday, September 23rd. Finally, Needham & Company LLC reduced their target price on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Apellis Pharmaceuticals Stock Performance

Shares of APLS opened at $29.98 on Wednesday. Apellis Pharmaceuticals has a 52-week low of $24.34 and a 52-week high of $73.80. The stock’s 50-day simple moving average is $31.02 and its 200 day simple moving average is $36.94. The company has a debt-to-equity ratio of 1.91, a quick ratio of 4.18 and a current ratio of 4.36. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -14.77 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings results 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 return on equity of 103.11% and a negative net margin of 34.97%. The company had revenue of $196.83 million during the quarter, compared to analysts’ expectations of $200.00 million. During the same period in the prior year, the firm earned ($1.17) EPS. Apellis Pharmaceuticals’s quarterly revenue was up 78.3% on a year-over-year basis. Research analysts forecast that Apellis Pharmaceuticals will post -1.5 EPS for the current fiscal year.

Insider Activity

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction that occurred on 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 sale, 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 document filed with the SEC, which is accessible through this link. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Wolverine Asset Management LLC purchased a new stake in shares of Apellis Pharmaceuticals during the third quarter worth approximately $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Apellis Pharmaceuticals during the 1st quarter worth about $89,000. Capital Performance Advisors LLP purchased a new position in shares of Apellis Pharmaceuticals during the 3rd quarter worth approximately $56,000. KBC Group NV boosted its holdings in Apellis Pharmaceuticals by 34.8% during the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after acquiring an additional 679 shares during the period. Finally, nVerses Capital LLC boosted its position in Apellis Pharmaceuticals by 300.0% in the 2nd 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 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).