Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Receives $32.63 Average Price Target from Analysts

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) has earned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $32.4211.

Several research analysts have recently commented on the company. Royal Bank Of Canada lowered their price target on Apellis Pharmaceuticals from $22.00 to $21.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 25th. JPMorgan Chase & Co. increased their target price on Apellis Pharmaceuticals from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. William Blair reiterated an “outperform” rating on shares of Apellis Pharmaceuticals in a research note on Monday, December 15th. Barclays began coverage on shares of Apellis Pharmaceuticals in a research note on Wednesday, January 28th. They issued an “equal weight” rating and a $24.00 price objective for the company. Finally, Wells Fargo & Company dropped their price objective on shares of Apellis Pharmaceuticals from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, CFO Timothy Eugene Sullivan sold 10,287 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.77, for a total value of $223,947.99. Following the completion of the transaction, the chief financial officer owned 93,901 shares in the company, valued at $2,044,224.77. The trade was a 9.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Pascal Deschatelets sold 5,928 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.77, for a total value of $129,052.56. Following the completion of the sale, the insider owned 1,151,382 shares in the company, valued at approximately $25,065,586.14. The trade was a 0.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 115,537 shares of company stock worth $2,486,082 over the last three months. 6.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in APLS. Jones Financial Companies Lllp increased its position in Apellis Pharmaceuticals by 206.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,037 shares of the company’s stock worth $46,000 after purchasing an additional 1,373 shares during the period. Allworth Financial LP raised its position in Apellis Pharmaceuticals by 64.1% in the third quarter. Allworth Financial LP now owns 2,194 shares of the company’s stock worth $50,000 after acquiring an additional 857 shares in the last quarter. Osaic Holdings Inc. raised its position in Apellis Pharmaceuticals by 141.2% in the second quarter. Osaic Holdings Inc. now owns 2,682 shares of the company’s stock worth $47,000 after acquiring an additional 1,570 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Apellis Pharmaceuticals in the third quarter valued at $64,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Apellis Pharmaceuticals by 338.5% in the second quarter. EverSource Wealth Advisors LLC now owns 5,429 shares of the company’s stock valued at $94,000 after acquiring an additional 4,191 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

Apellis Pharmaceuticals Price Performance

Apellis Pharmaceuticals stock opened at $17.89 on Monday. The company has a current ratio of 3.14, a quick ratio of 2.70 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $21.51 and a 200 day moving average price of $23.06. Apellis Pharmaceuticals has a 12-month low of $16.10 and a 12-month high of $30.48. The stock has a market cap of $2.29 billion, a P/E ratio of 137.63 and a beta of 0.26.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.86. The business had revenue of $199.91 million during the quarter, compared to analysts’ expectations of $199.28 million. Apellis Pharmaceuticals had a net margin of 2.23% and a return on equity of 8.20%. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.29) EPS. Sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.