Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Receives $74.38 Average Price Target from Analysts

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) has received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $74.38.

A number of brokerages have recently issued reports on APLS. JPMorgan Chase & Co. raised their price objective on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of Apellis Pharmaceuticals in a research report on Wednesday, May 8th. Piper Sandler assumed coverage on shares of Apellis Pharmaceuticals in a report on Friday, May 31st. They issued a “neutral” rating and a $46.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $92.00 target price on shares of Apellis Pharmaceuticals in a research note on Tuesday, May 28th. Finally, UBS Group dropped their price target on shares of Apellis Pharmaceuticals from $89.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS opened at $40.37 on Tuesday. The stock’s 50-day moving average is $46.50 and its 200 day moving average is $56.42. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of -11.67 and a beta of 0.95. Apellis Pharmaceuticals has a 1-year low of $19.83 and a 1-year high of $94.75. The company has a current ratio of 3.77, a quick ratio of 3.02 and a debt-to-equity ratio of 0.35.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.54) EPS for the quarter, hitting the consensus estimate of ($0.54). Apellis Pharmaceuticals had a negative net margin of 79.67% and a negative return on equity of 160.77%. The firm had revenue of $172.33 million for the quarter, compared to the consensus estimate of $163.37 million. During the same period last year, the firm posted ($1.56) earnings per share. The business’s revenue was up 284.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Pascal Deschatelets sold 78,907 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $42.35, for a total transaction of $3,341,711.45. Following the sale, the insider now owns 1,115,983 shares in the company, valued at $47,261,880.05. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Apellis Pharmaceuticals news, insider Pascal Deschatelets sold 78,907 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $42.35, for a total transaction of $3,341,711.45. Following the transaction, the insider now owns 1,115,983 shares in the company, valued at approximately $47,261,880.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nur Nicholson sold 11,220 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $57.56, for a total transaction of $645,823.20. Following the completion of the sale, the insider now owns 56,287 shares of the company’s stock, valued at $3,239,879.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,012 shares of company stock valued at $9,608,319. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of APLS. Future Financial Wealth Managment LLC bought a new stake in shares of Apellis Pharmaceuticals in the first quarter worth $29,000. Covestor Ltd grew its stake in shares of Apellis Pharmaceuticals by 564.2% during the 3rd quarter. Covestor Ltd now owns 797 shares of the company’s stock valued at $30,000 after purchasing an additional 677 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Apellis Pharmaceuticals during the 1st quarter valued at about $89,000. Quantbot Technologies LP lifted its stake in shares of Apellis Pharmaceuticals by 280.5% in the 3rd quarter. Quantbot Technologies LP now owns 4,798 shares of the company’s stock worth $183,000 after purchasing an additional 3,537 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in shares of Apellis Pharmaceuticals in the fourth quarter worth approximately $205,000. 96.29% of the stock is owned by institutional investors.

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).