Wells Fargo & Company Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $43.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price cut by research analysts at Wells Fargo & Company from $47.00 to $43.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 36.42% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. UBS Group cut their price objective 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 raised their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 target price on shares of Apellis Pharmaceuticals in a research note on Friday. HC Wainwright lowered their target price on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Piper Sandler assumed coverage on shares of Apellis Pharmaceuticals in a research note on Friday, May 31st. They set a “neutral” rating and a $46.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.20.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ APLS traded down $1.20 during mid-day trading on Tuesday, reaching $31.52. The company’s stock had a trading volume of 1,226,031 shares, compared to its average volume of 1,516,047. The stock has a 50-day moving average of $37.72 and a two-hundred day moving average of $43.32. The stock has a market capitalization of $3.83 billion, a P/E ratio of -9.11 and a beta of 0.88. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. Apellis Pharmaceuticals has a 1-year low of $30.90 and a 1-year high of $73.80.

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

Insider Activity

In other news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals 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 transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. The sale was disclosed in a 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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new position in Apellis Pharmaceuticals in the 1st quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Apellis Pharmaceuticals in the 1st quarter valued at $89,000. nVerses Capital LLC grew 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 last quarter. CWM LLC grew its position in Apellis Pharmaceuticals by 299.9% in the 2nd quarter. CWM LLC now owns 4,151 shares of the company’s stock valued at $159,000 after buying an additional 3,113 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in Apellis Pharmaceuticals in the 4th quarter valued at $205,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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).