Robert W. Baird Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $55.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target cut by equities research analysts at Robert W. Baird from $92.00 to $55.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 83.46% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. decreased their target price on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Evercore ISI raised Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Mizuho cut their target price on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. UBS Group decreased their price target on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Citigroup dropped their price objective on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.06.

Apellis Pharmaceuticals Trading Up 4.3 %

Shares of APLS opened at $29.98 on Thursday. The firm has a market cap of $3.65 billion, a P/E ratio of -10.94 and a beta of 0.87. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. Apellis Pharmaceuticals has a 1 year low of $24.34 and a 1 year high of $73.80. The company has a 50 day simple moving average of $31.02 and a two-hundred day simple moving average of $37.02.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The company had revenue of $196.83 million for the quarter, compared to analysts’ expectations of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The business’s revenue was up 78.3% on a year-over-year basis. During the same period in the previous year, the business posted ($1.17) earnings per share. On average, equities analysts expect that Apellis Pharmaceuticals will post -1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were 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 directly owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC purchased a new position in shares of Apellis Pharmaceuticals during the third quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new position in Apellis Pharmaceuticals in the third quarter worth approximately $56,000. KBC Group NV increased 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 worth $76,000 after purchasing an additional 679 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Apellis Pharmaceuticals during the 1st quarter worth $89,000. Finally, nVerses Capital LLC raised its position in Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after purchasing an additional 2,100 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).