Robert W. Baird Has Lowered Expectations for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective cut by analysts at Robert W. Baird from $92.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 91.37% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Needham & Company LLC cut their price target on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $25.00 target price on shares of Apellis Pharmaceuticals in a research report on Monday. Wells Fargo & Company lowered their target price on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Scotiabank reduced their price target on Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday. Finally, UBS Group cut their price objective on Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Apellis Pharmaceuticals Price Performance

Shares of Apellis Pharmaceuticals stock traded down $0.09 during trading on Thursday, hitting $28.74. The stock had a trading volume of 1,124,915 shares, compared to its average volume of 1,777,589. The business has a fifty day moving average of $31.39 and a two-hundred day moving average of $37.20. Apellis Pharmaceuticals has a fifty-two week low of $24.34 and a fifty-two week high of $73.80. The firm has a market cap of $3.50 billion, a P/E ratio of -10.49 and a beta of 0.87. 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 posted its quarterly earnings data 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 net margin of 52.99% and a negative return on equity of 138.32%. The business had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same quarter last year, the business posted ($1.17) EPS. The business’s revenue for the quarter was up 78.3% on a year-over-year basis. On average, sell-side analysts expect that Apellis Pharmaceuticals will post -1.4 earnings per share for the current fiscal year.

Insider Activity

In other news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction dated 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 completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Wolverine Asset Management LLC purchased a new position in shares of Apellis Pharmaceuticals during the 3rd quarter valued at $27,000. Capital Performance Advisors LLP purchased a new stake in Apellis Pharmaceuticals in the third quarter worth $56,000. KBC Group NV increased its stake in Apellis Pharmaceuticals by 34.8% in the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after buying an additional 679 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Apellis Pharmaceuticals during the 1st quarter valued at about $89,000. Finally, nVerses Capital LLC boosted its position in Apellis Pharmaceuticals by 300.0% in the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after buying an additional 2,100 shares during the period. 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).