Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Lowered to $32.00 at Piper Sandler

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective cut by Piper Sandler from $40.00 to $32.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Wedbush upped their price objective on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Robert W. Baird lowered their target price on Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Mizuho reduced their price target on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their price objective on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.24.

Apellis Pharmaceuticals Stock Performance

APLS stock opened at $28.83 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. Apellis Pharmaceuticals has a 1 year low of $24.34 and a 1 year high of $73.80. The company has a market cap of $3.51 billion, a P/E ratio of -10.52 and a beta of 0.87. The stock’s fifty day moving average price is $31.39 and its 200-day moving average price is $37.20.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The firm had revenue of $196.83 million during the quarter, compared to analysts’ expectations of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The company’s revenue for the quarter 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 forecast that Apellis Pharmaceuticals will post -1.4 earnings per share for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other 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 value of $1,340,510.00. Following 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 SEC, which can be accessed through this hyperlink. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of APLS. HighVista Strategies LLC lifted 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 valued at $290,000 after purchasing an additional 300 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Apellis Pharmaceuticals by 5.4% in 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 last quarter. Simplicity Wealth LLC grew its position in Apellis Pharmaceuticals by 0.6% in the second quarter. Simplicity Wealth LLC now owns 78,746 shares of the company’s stock worth $3,021,000 after acquiring an additional 499 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Apellis Pharmaceuticals by 8.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,694 shares of the company’s stock worth $511,000 after acquiring an additional 664 shares during the last quarter. Finally, KBC Group NV raised its position in Apellis Pharmaceuticals by 34.8% during the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after purchasing an additional 679 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

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).