Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $85.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective cut by investment analysts at UBS Group from $89.00 to $85.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 101.14% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their target price on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Robert W. Baird reaffirmed an “outperform” rating and issued a $81.00 price objective on shares of Apellis Pharmaceuticals in a report on Tuesday, February 6th. Jefferies Financial Group raised shares of Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $80.00 in a report on Monday, February 5th. Mizuho lowered their price target on shares of Apellis Pharmaceuticals from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $85.00 price objective on shares of Apellis Pharmaceuticals in a report on Wednesday. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Apellis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $77.13.

Apellis Pharmaceuticals Stock Performance

NASDAQ:APLS traded down $1.64 during trading hours on Wednesday, hitting $42.26. 123,987 shares of the company were exchanged, compared to its average volume of 1,556,393. The company’s 50 day moving average price is $54.74 and its 200-day moving average price is $57.53. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of -9.43 and a beta of 0.97. Apellis Pharmaceuticals has a 52-week low of $19.83 and a 52-week high of $94.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.10 and a quick ratio of 2.50.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Tuesday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.54). Apellis Pharmaceuticals had a negative return on equity of 178.60% and a negative net margin of 133.34%. The firm had revenue of $172.33 million for the quarter, compared to the consensus estimate of $163.37 million. During the same period in the prior year, the firm earned ($1.56) EPS. The firm’s revenue was up 284.3% on a year-over-year basis. As a group, research analysts forecast that Apellis Pharmaceuticals will post -1.27 earnings per share for the current year.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 781 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $67.77, for a total transaction of $52,928.37. Following the completion of the transaction, the general counsel now owns 103,390 shares of the company’s stock, valued at $7,006,740.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Apellis Pharmaceuticals news, CFO Timothy Eugene Sullivan sold 1,431 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $67.77, for a total transaction of $96,978.87. Following the sale, the chief financial officer now directly owns 93,338 shares in the company, valued at approximately $6,325,516.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel David O. Watson sold 781 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $67.77, for a total transaction of $52,928.37. Following the completion of the transaction, the general counsel now owns 103,390 shares of the company’s stock, valued at approximately $7,006,740.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 376,427 shares of company stock worth $23,169,639. Company insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC purchased a new stake in Apellis Pharmaceuticals during the 1st quarter worth about $29,000. First Horizon Advisors Inc. grew its position in shares of Apellis Pharmaceuticals by 69.0% during the third quarter. First Horizon Advisors Inc. now owns 649 shares of the company’s stock worth $25,000 after buying an additional 265 shares in the last quarter. Covestor Ltd increased its stake in shares of Apellis Pharmaceuticals by 564.2% during the third quarter. Covestor Ltd now owns 797 shares of the company’s stock worth $30,000 after buying an additional 677 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Apellis Pharmaceuticals in the first quarter valued at approximately $89,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Apellis Pharmaceuticals by 29.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,028 shares of the company’s stock worth $115,000 after acquiring an additional 687 shares during the last quarter. 96.29% of the stock is currently 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).