Apellis Pharmaceuticals (NASDAQ:APLS) PT Raised to $41.00 at Wedbush

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target hoisted by analysts at Wedbush from $38.00 to $41.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Wedbush’s target price indicates a potential upside of 10.78% from the stock’s current price. Wedbush also issued estimates for Apellis Pharmaceuticals’ FY2027 earnings at $4.88 EPS and FY2028 earnings at $5.61 EPS.

A number of other analysts have also commented on APLS. Piper Sandler initiated coverage on shares of Apellis Pharmaceuticals in a research note on Friday, May 31st. They set a “neutral” rating and a $46.00 price target for the company. Robert W. Baird boosted their price target on shares of Apellis Pharmaceuticals from $86.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company decreased their price target on shares of Apellis Pharmaceuticals from $57.00 to $48.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Finally, 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 report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.63.

Apellis Pharmaceuticals Stock Down 1.7 %

NASDAQ APLS traded down $0.65 on Friday, hitting $37.01. 1,885,232 shares of the company were exchanged, compared to its average volume of 1,541,113. The company has a market cap of $4.49 billion, a PE ratio of -10.70 and a beta of 0.88. Apellis Pharmaceuticals has a 12 month low of $23.86 and a 12 month high of $73.80. The stock has a fifty day moving average of $38.70 and a 200-day moving average of $49.60. The company has a current ratio of 5.08, a quick ratio of 3.02 and a debt-to-equity ratio of 1.73.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly 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 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%. Apellis Pharmaceuticals’s quarterly revenue was up 110.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.02) EPS. As a group, analysts forecast that Apellis Pharmaceuticals will post -1.14 earnings per share for the current year.

Insider Transactions at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction on Friday, June 21st. The stock was sold at an average price of $39.24, for a total transaction of $1,451,880.00. Following the sale, the director now directly owns 136,998 shares in the company, valued at approximately $5,375,801.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Edgestream Partners L.P. grew its stake in shares of Apellis Pharmaceuticals by 240.4% during the 2nd quarter. Edgestream Partners L.P. now owns 54,572 shares of the company’s stock worth $2,093,000 after acquiring an additional 38,541 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Apellis Pharmaceuticals by 42.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock worth $5,161,000 after acquiring an additional 39,931 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Apellis Pharmaceuticals by 46.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 12,754 shares of the company’s stock worth $489,000 after acquiring an additional 4,060 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Apellis Pharmaceuticals by 6.6% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 45,241 shares of the company’s stock valued at $1,735,000 after purchasing an additional 2,820 shares during the period. Finally, Savant Capital LLC bought a new stake in shares of Apellis Pharmaceuticals during the 2nd quarter valued at $522,000. 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).