Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $92.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective decreased by research analysts at Robert W. Baird from $96.00 to $92.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 199.19% from the company’s current price.

A number of other research firms have also recently commented on APLS. HC Wainwright reduced their price objective on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Mizuho decreased their price target on shares of Apellis Pharmaceuticals from $42.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, September 20th. The Goldman Sachs Group raised their price objective on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 target price on shares of Apellis Pharmaceuticals in a research report on Friday, September 20th. Finally, Piper Sandler assumed coverage on Apellis Pharmaceuticals in a report on Friday, May 31st. They set a “neutral” rating and a $46.00 price target for the company. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.20.

Apellis Pharmaceuticals Stock Down 6.0 %

Apellis Pharmaceuticals stock opened at $30.75 on Monday. Apellis Pharmaceuticals has a fifty-two week low of $30.74 and a fifty-two week high of $73.80. The firm has a market capitalization of $3.73 billion, a PE ratio of -8.89 and a beta of 0.88. The company’s 50-day moving average is $37.52 and its 200-day moving average is $43.10. 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 (NASDAQ:APLS) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm had revenue of $199.70 million for the quarter, compared to analyst estimates of $190.89 million. During the same quarter in the prior year, the company earned ($1.02) earnings per share. The business’s revenue for the quarter was up 110.2% compared to the same quarter last year. Sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.29 earnings per share for the current year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction on 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 owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 6.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Apellis Pharmaceuticals during the 4th quarter valued at approximately $56,640,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Apellis Pharmaceuticals by 38.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,460,339 shares of the company’s stock worth $147,277,000 after buying an additional 677,098 shares in the last quarter. Iron Triangle Partners LP acquired a new stake in shares of Apellis Pharmaceuticals during the 1st quarter valued at $32,329,000. Fiera Capital Corp boosted its holdings in shares of Apellis Pharmaceuticals by 47.7% during the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock valued at $53,750,000 after acquiring an additional 452,753 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. increased its holdings in Apellis Pharmaceuticals by 44.2% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 885,165 shares of the company’s stock worth $52,986,000 after purchasing an additional 271,122 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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).