Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price Up 6.2% – Still a Buy?

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) shares were up 6.2% during trading on Friday . The stock traded as high as $23.08 and last traded at $23.5760. Approximately 222,080 shares changed hands during trading, a decline of 91% from the average daily volume of 2,352,329 shares. The stock had previously closed at $22.19.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wells Fargo & Company began coverage on Apellis Pharmaceuticals in a research note on Wednesday, October 15th. They issued an “overweight” rating and a $32.00 target price on the stock. HC Wainwright decreased their price target on Apellis Pharmaceuticals from $57.00 to $45.00 and set a “buy” rating for the company in a report on Friday, October 31st. Wolfe Research started coverage on shares of Apellis Pharmaceuticals in a research note on Thursday, November 6th. They issued a “peer perform” rating on the stock. Wall Street Zen upgraded shares of Apellis Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Mizuho reduced their target price on shares of Apellis Pharmaceuticals from $24.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $33.06.

Apellis Pharmaceuticals Price Performance

The stock’s fifty day moving average price is $22.89 and its 200-day moving average price is $22.07. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.10 and a current ratio of 3.54. The firm has a market cap of $3.01 billion, a PE ratio of 76.92 and a beta of 0.37.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.64. Apellis Pharmaceuticals had a net margin of 4.43% and a return on equity of 18.94%. The firm had revenue of $458.58 million for the quarter, compared to the consensus estimate of $364.58 million. During the same quarter in the previous year, the firm earned ($0.46) earnings per share. The firm’s revenue was up 133.0% on a year-over-year basis. As a group, equities analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 31,092 shares of the business’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $23.72, for a total transaction of $737,502.24. Following the sale, the director directly owned 3,837 shares in the company, valued at approximately $91,013.64. The trade was a 89.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Timothy Eugene Sullivan sold 10,000 shares of the company’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $28.03, for a total value of $280,300.00. Following the completion of the sale, the chief financial officer directly owned 110,936 shares in the company, valued at $3,109,536.08. This trade represents a 8.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 87,373 shares of company stock worth $2,084,036 in the last quarter. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Corton Capital Inc. acquired a new position in Apellis Pharmaceuticals during the second quarter worth about $364,000. Woodline Partners LP increased its stake in shares of Apellis Pharmaceuticals by 15.5% during the 1st quarter. Woodline Partners LP now owns 218,850 shares of the company’s stock worth $4,786,000 after purchasing an additional 29,373 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Apellis Pharmaceuticals by 43.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 100,666 shares of the company’s stock worth $1,838,000 after purchasing an additional 30,507 shares in the last quarter. Bayforest Capital Ltd raised its position in shares of Apellis Pharmaceuticals by 431.9% during the 1st quarter. Bayforest Capital Ltd now owns 52,338 shares of the company’s stock worth $1,145,000 after purchasing an additional 42,499 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its position in shares of Apellis Pharmaceuticals by 29.0% during the 2nd quarter. Pallas Capital Advisors LLC now owns 54,849 shares of the company’s stock worth $949,000 after purchasing an additional 12,315 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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).