Apellis Pharmaceuticals (NASDAQ:APLS) Trading Down 3% Following Analyst Downgrade

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)’s stock price traded down 3% during mid-day trading on Tuesday after Robert W. Baird lowered their price target on the stock from $96.00 to $92.00. Robert W. Baird currently has an outperform rating on the stock. Apellis Pharmaceuticals traded as low as $31.65 and last traded at $31.73. 154,620 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,510,224 shares. The stock had previously closed at $32.72.

Several other analysts have also weighed in on the company. The Goldman Sachs Group increased their price target on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, September 13th. UBS Group cut their price target on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Jefferies Financial Group restated a “buy” rating and set a $80.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday, July 31st. Finally, Wedbush increased their price target on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apellis Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $70.53.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals 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 transaction of $1,340,510.00. Following the completion of the sale, the director now owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. HighVista Strategies LLC raised its position in Apellis Pharmaceuticals by 4.1% during the second quarter. HighVista Strategies LLC now owns 7,566 shares of the company’s stock worth $290,000 after acquiring an additional 300 shares during the period. Amalgamated Bank boosted its holdings in Apellis Pharmaceuticals by 5.4% during the 2nd quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock valued at $268,000 after acquiring an additional 359 shares during the period. Simplicity Wealth LLC grew its holdings in shares of Apellis Pharmaceuticals by 0.6% in the second quarter. Simplicity Wealth LLC now owns 78,746 shares of the company’s stock valued at $3,021,000 after purchasing an additional 499 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Apellis Pharmaceuticals during the first quarter worth $29,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in Apellis Pharmaceuticals by 8.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,694 shares of the company’s stock worth $511,000 after purchasing an additional 664 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

Apellis Pharmaceuticals Trading Down 4.2 %

The stock has a market cap of $3.81 billion, a price-to-earnings ratio of -9.32 and a beta of 0.88. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. The company’s fifty day moving average is $37.72 and its two-hundred day moving average is $43.32.

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

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).