Apellis Pharmaceuticals (NASDAQ:APLS) Earns Sector Outperform Rating from Analysts at Scotiabank

Scotiabank initiated coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a report published on Wednesday morning, Marketbeat.com reports. The firm issued a sector outperform rating and a $35.00 target price on the stock.

A number of other brokerages have also recently commented on APLS. Robert W. Baird cut their price target on shares of Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Wedbush raised their target price on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 price target on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Mizuho dropped their price objective on Apellis Pharmaceuticals from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. Finally, William Blair started coverage on Apellis Pharmaceuticals in a research note on Wednesday. They set an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ APLS opened at $28.00 on Wednesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. The business has a 50-day moving average of $34.16 and a 200-day moving average of $39.62. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of -8.09 and a beta of 0.87. Apellis Pharmaceuticals has a fifty-two week low of $26.28 and a fifty-two week high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.03. The firm had revenue of $199.70 million for the quarter, compared to analyst estimates of $190.89 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The business’s quarterly revenue was up 110.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.02) EPS. As a group, sell-side analysts predict that Apellis Pharmaceuticals will post -1.37 earnings per share for the current fiscal year.

Insider Transactions at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $3,623,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.80% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. CWM LLC increased its holdings in shares of Apellis Pharmaceuticals by 471.5% during the third quarter. CWM LLC now owns 23,722 shares of the company’s stock worth $684,000 after purchasing an additional 19,571 shares during the period. Handelsbanken Fonder AB increased its stake in Apellis Pharmaceuticals by 15.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 27,600 shares of the company’s stock worth $796,000 after acquiring an additional 3,700 shares during the period. Duncan Williams Asset Management LLC acquired a new position in Apellis Pharmaceuticals in the 3rd quarter valued at $609,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Apellis Pharmaceuticals during the 2nd quarter valued at $725,000. Finally, Algert Global LLC grew its holdings in shares of Apellis Pharmaceuticals by 137.8% during the 2nd quarter. Algert Global LLC now owns 123,628 shares of the company’s stock worth $4,742,000 after purchasing an additional 71,650 shares in the last quarter. 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).