Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Short Interest Down 5.9% in November

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 21,810,000 shares, a decline of 5.9% from the November 15th total of 23,180,000 shares. Based on an average daily trading volume, of 3,240,000 shares, the short-interest ratio is presently 6.7 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on APLS shares. HC Wainwright dropped their price target on Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group lowered their target price on Apellis Pharmaceuticals from $71.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Mizuho lowered their price objective on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC decreased their target price on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.94.

Apellis Pharmaceuticals Price Performance

Shares of APLS opened at $33.66 on Tuesday. The company has a 50 day moving average of $29.78 and a two-hundred day moving average of $34.67. The company has a market cap of $4.19 billion, a price-to-earnings ratio of -16.58 and a beta of 0.94. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals has a twelve month low of $24.34 and a twelve month high of $73.80.

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 return on equity of 103.11% and a negative net margin of 34.97%. The business had revenue of $196.83 million for the quarter, compared to analysts’ expectations of $200.00 million. During the same quarter last year, the firm earned ($1.17) earnings per share. The firm’s quarterly revenue was up 78.3% compared to the same quarter last year. As a group, analysts predict that Apellis Pharmaceuticals will post -1.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. HighVista Strategies LLC increased its stake in Apellis Pharmaceuticals by 4.1% during the 2nd quarter. HighVista Strategies LLC now owns 7,566 shares of the company’s stock valued at $290,000 after purchasing an additional 300 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Apellis Pharmaceuticals by 5.4% during the second quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock valued at $268,000 after buying an additional 359 shares during the last quarter. KBC Group NV increased its position in shares of Apellis Pharmaceuticals by 34.8% in the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after acquiring an additional 679 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Apellis Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock worth $130,000 after acquiring an additional 781 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Apellis Pharmaceuticals during the 3rd quarter worth about $27,000. 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).