Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $92.00 by Analysts at Robert W. Baird

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target cut by Robert W. Baird from $96.00 to $92.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an outperform rating on the stock.

APLS has been the subject of a number of other reports. HC Wainwright dropped their price target on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a buy rating for the company in a research report on Friday, August 2nd. UBS Group dropped their price target on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a buy rating for the company in a research report on Friday, August 9th. Wedbush upped their price target on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a neutral rating in a research report on Friday, August 9th. The Goldman Sachs Group upped their price target on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a buy rating in a research report on Friday, August 9th. Finally, Needham & Company LLC restated a buy rating and set a $85.00 target price on shares of Apellis Pharmaceuticals in a research report on Friday. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $70.53.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS opened at $32.72 on Monday. The firm has a 50 day moving average of $37.72 and a 200 day moving average of $43.32. The company has a current ratio of 5.08, a quick ratio of 4.18 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -9.46 and a beta of 0.88. Apellis Pharmaceuticals has a 12-month low of $31.00 and a 12-month high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.03. The company had revenue of $199.70 million during the quarter, compared to analyst estimates of $190.89 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The firm’s quarterly revenue was up 110.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.02) earnings per share. On average, research analysts anticipate that Apellis Pharmaceuticals will post -1.29 earnings per share for the current year.

Insider Activity

In other 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 value of $1,340,510.00. Following the sale, the director now owns 100,000 shares of the company’s stock, valued at $3,623,000. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new position in shares of Apellis Pharmaceuticals in the first quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Apellis Pharmaceuticals in the first quarter worth about $89,000. nVerses Capital LLC grew its holdings 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 worth $107,000 after purchasing an additional 2,100 shares during the last quarter. CWM LLC grew its holdings in shares of Apellis Pharmaceuticals by 299.9% in the second quarter. CWM LLC now owns 4,151 shares of the company’s stock worth $159,000 after purchasing an additional 3,113 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of Apellis Pharmaceuticals in the fourth quarter worth about $205,000. Hedge funds and other institutional investors 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).