Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Lowered to $40.00 at Oppenheimer

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective reduced by Oppenheimer from $65.00 to $40.00 in a research note published on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

APLS has been the topic of a number of other research reports. Bank of America dropped their price objective on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday. Mizuho decreased their price target on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Robert W. Baird decreased their target price on shares of Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Wedbush upped their price objective on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Evercore ISI upgraded Apellis Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given 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 $53.24.

Apellis Pharmaceuticals Stock Up 2.7 %

Shares of Apellis Pharmaceuticals stock opened at $28.83 on Wednesday. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. Apellis Pharmaceuticals has a 52-week low of $24.34 and a 52-week high of $73.80. The company has a market capitalization of $3.51 billion, a P/E ratio of -10.52 and a beta of 0.87. The company has a 50 day moving average of $31.39 and a 200 day moving average of $37.20.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data 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 for 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%. Apellis Pharmaceuticals’s revenue for the quarter was up 78.3% on a year-over-year basis. During the same period last year, the firm posted ($1.17) earnings per share. As a group, research analysts forecast that Apellis Pharmaceuticals will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. The trade was a 0.00 % decrease in their position. 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

Large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. raised its position in shares of Apellis Pharmaceuticals by 191.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock worth $61,845,000 after buying an additional 1,409,707 shares during the period. Iron Triangle Partners LP purchased a new stake in shares of Apellis Pharmaceuticals during the 1st quarter worth about $32,329,000. Fiera Capital Corp increased its position in Apellis Pharmaceuticals by 47.7% during the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock worth $53,750,000 after purchasing an additional 452,753 shares in the last quarter. AQR Capital Management LLC raised its holdings in Apellis Pharmaceuticals by 337.3% in the second quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock valued at $9,177,000 after buying an additional 190,420 shares during the period. Finally, Redmile Group LLC acquired a new position in Apellis Pharmaceuticals during the first quarter valued at approximately $9,111,000. Hedge funds and other institutional investors 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).