Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Receives $33.94 Average Price Target from Brokerages

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) has received a consensus rating of “Hold” from the twenty ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $33.9412.

A number of research firms have recently commented on APLS. HC Wainwright cut 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. Stifel Nicolaus cut their target price on Apellis Pharmaceuticals from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, December 19th. Wall Street Zen raised Apellis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Apellis Pharmaceuticals in a report on Monday, December 29th. Finally, The Goldman Sachs Group lowered shares of Apellis Pharmaceuticals from a “neutral” rating to a “sell” rating and cut their price objective for the company from $26.00 to $18.00 in a research report on Friday, September 26th.

Insider Buying and Selling at Apellis Pharmaceuticals

In related news, CFO Timothy Eugene Sullivan sold 10,000 shares of Apellis Pharmaceuticals stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $28.03, for a total transaction of $280,300.00. Following the completion of the sale, the chief financial officer owned 110,936 shares of the company’s stock, valued at approximately $3,109,536.08. This trade represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David O. Watson sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $24.49, for a total value of $122,450.00. Following the transaction, the general counsel owned 103,730 shares of the company’s stock, valued at approximately $2,540,347.70. The trade was a 4.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 56,092 shares of company stock valued at $1,366,652 in the last three months. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

Large investors have recently modified their holdings of the business. Allworth Financial LP grew its holdings in shares of Apellis Pharmaceuticals by 64.1% during the third quarter. Allworth Financial LP now owns 2,194 shares of the company’s stock worth $50,000 after purchasing an additional 857 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in Apellis Pharmaceuticals during the third quarter valued at approximately $1,533,000. CANADA LIFE ASSURANCE Co grew its stake in Apellis Pharmaceuticals by 186.8% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 17,747 shares of the company’s stock worth $402,000 after buying an additional 11,558 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Apellis Pharmaceuticals in the 3rd quarter worth $248,000. Finally, Woodline Partners LP increased its holdings in shares of Apellis Pharmaceuticals by 2.3% in the 3rd quarter. Woodline Partners LP now owns 542,981 shares of the company’s stock worth $12,288,000 after buying an additional 12,058 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ:APLS opened at $23.94 on Wednesday. The firm has a market capitalization of $3.03 billion, a PE ratio of 77.23 and a beta of 0.31. The company has a quick ratio of 3.10, a current ratio of 3.54 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $22.63 and a two-hundred day moving average price of $23.20. Apellis Pharmaceuticals has a twelve month low of $16.10 and a twelve month high of $35.57.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.64. The company had revenue of $458.58 million for the quarter, compared to analysts’ expectations of $364.58 million. Apellis Pharmaceuticals had a net margin of 4.43% and a return on equity of 18.94%. Apellis Pharmaceuticals’s revenue was up 133.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.46) EPS. Equities analysts forecast that Apellis Pharmaceuticals will post -1.7 EPS for the current year.

About Apellis Pharmaceuticals

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.