HC Wainwright Lowers Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $57.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target lowered by HC Wainwright from $83.00 to $57.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on the company. Evercore ISI raised Apellis Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, October 31st. Wells Fargo & Company decreased their price target on Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 24th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price target on shares of Apellis Pharmaceuticals in a research report on Friday, September 20th. The Goldman Sachs Group increased their price target on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price target on shares of Apellis Pharmaceuticals in a research report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Apellis Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $53.24.

Apellis Pharmaceuticals Trading Up 2.7 %

NASDAQ:APLS opened at $28.83 on Wednesday. Apellis Pharmaceuticals has a 1 year low of $24.34 and a 1 year high of $73.80. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of -10.52 and a beta of 0.87. The business has a fifty day moving average of $31.39 and a 200-day moving average of $37.20. 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 (NASDAQ:APLS) last announced 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). Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The firm had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same period in the prior year, the business earned ($1.17) EPS. The company’s quarterly revenue was up 78.3% compared to the same quarter last year. Equities analysts predict that Apellis Pharmaceuticals will post -1.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the sale, the director now directly owns 100,000 shares in the company, valued at approximately $3,623,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of APLS. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Apellis Pharmaceuticals during the first quarter valued at approximately $3,218,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Apellis Pharmaceuticals in the first quarter valued at $89,000. Oppenheimer Asset Management Inc. grew its position in Apellis Pharmaceuticals by 8.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 8,694 shares of the company’s stock valued at $511,000 after acquiring an additional 664 shares during the period. Lisanti Capital Growth LLC grew its position in Apellis Pharmaceuticals by 92.7% in the first quarter. Lisanti Capital Growth LLC now owns 89,210 shares of the company’s stock valued at $5,244,000 after acquiring an additional 42,905 shares during the period. Finally, Sei Investments Co. grew its position in Apellis Pharmaceuticals by 57.4% in the first quarter. Sei Investments Co. now owns 39,864 shares of the company’s stock valued at $2,343,000 after acquiring an additional 14,531 shares during the period. 96.29% of the stock is currently owned by 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).