Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $64.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $72.00 to $64.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 77.68% from the company’s current price.

Several other equities analysts have also commented on the company. Wedbush increased their target price on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, August 9th. UBS Group dropped their price objective on Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Citigroup dropped their price objective on Apellis Pharmaceuticals from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. The Goldman Sachs Group raised their price objective on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.69.

Apellis Pharmaceuticals Stock Up 0.8 %

NASDAQ:APLS opened at $36.02 on Tuesday. The company has a quick ratio of 3.02, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. The stock’s fifty day moving average is $38.54 and its two-hundred day moving average is $49.07. Apellis Pharmaceuticals has a 52 week low of $29.79 and a 52 week high of $73.80. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of -10.41 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The business had revenue of $199.70 million for the quarter, compared to analyst estimates of $190.89 million. During the same quarter in the prior year, the company earned ($1.02) earnings per share. The company’s revenue was up 110.2% on a year-over-year basis. Research analysts anticipate that Apellis Pharmaceuticals will post -1.14 EPS for the current year.

Insider Activity at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $39.24, for a total value of $1,451,880.00. Following the completion of the sale, the director now owns 136,998 shares in the company, valued at $5,375,801.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new position in Apellis Pharmaceuticals in the second quarter valued at about $2,350,000. Xponance Inc. increased its holdings in Apellis Pharmaceuticals by 7.6% in the second quarter. Xponance Inc. now owns 13,773 shares of the company’s stock valued at $528,000 after buying an additional 968 shares in the last quarter. HighVista Strategies LLC increased its holdings in Apellis Pharmaceuticals by 4.1% in the second quarter. HighVista Strategies LLC now owns 7,566 shares of the company’s stock valued at $290,000 after buying an additional 300 shares in the last quarter. Profund Advisors LLC increased its holdings in Apellis Pharmaceuticals by 90.7% in the second quarter. Profund Advisors LLC now owns 42,968 shares of the company’s stock valued at $1,648,000 after buying an additional 20,435 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Apellis Pharmaceuticals by 5.4% during the 2nd quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock worth $268,000 after purchasing an additional 359 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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).