Apellis Pharmaceuticals’ (APLS) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research report report published on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $26.00 target price on the stock.

APLS has been the subject of a number of other reports. Scotiabank lowered their price objective on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. William Blair assumed coverage on shares of Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They issued an “outperform” rating for the company. Bank of America cut their price objective on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. The Goldman Sachs Group lowered Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Tuesday, December 17th. Finally, Oppenheimer cut their price target on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apellis Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $46.71.

Apellis Pharmaceuticals Stock Performance

NASDAQ:APLS opened at $30.76 on Tuesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. The stock’s fifty day moving average is $31.95 and its 200 day moving average is $33.25. The firm has a market capitalization of $3.83 billion, a PE ratio of -15.15 and a beta of 0.94. Apellis Pharmaceuticals has a fifty-two week low of $24.34 and a fifty-two week high of $71.90.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $200.00 million. During the same quarter in the previous year, the company posted ($1.17) earnings per share. The company’s quarterly revenue was up 78.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.71 earnings per share for the current year.

Insider Transactions at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, CEO Cedric Francois sold 13,551 shares of Apellis Pharmaceuticals stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total value of $412,356.93. Following the transaction, the chief executive officer now owns 418,519 shares in the company, valued at $12,735,533.17. This trade represents a 3.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David O. Watson sold 3,323 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total value of $101,118.89. Following the sale, the general counsel now owns 144,994 shares of the company’s stock, valued at $4,412,167.42. This represents a 2.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,112 shares of company stock valued at $1,655,767 over the last three months. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in shares of Apellis Pharmaceuticals by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock valued at $112,036,000 after buying an additional 735,160 shares in the last quarter. Braidwell LP boosted its holdings in Apellis Pharmaceuticals by 410.8% in the 3rd quarter. Braidwell LP now owns 3,125,183 shares of the company’s stock worth $90,130,000 after acquiring an additional 2,513,383 shares during the period. Assenagon Asset Management S.A. grew its position in Apellis Pharmaceuticals by 191.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock valued at $61,845,000 after acquiring an additional 1,409,707 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Apellis Pharmaceuticals by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,810,526 shares of the company’s stock valued at $52,229,000 after purchasing an additional 22,609 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Apellis Pharmaceuticals by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 956,362 shares of the company’s stock worth $27,581,000 after purchasing an additional 9,328 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other 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).