Apellis Pharmaceuticals (NASDAQ:APLS) PT Lowered to $38.00 at Mizuho

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price decreased by Mizuho from $39.00 to $38.00 in a research note released on Thursday morning, Benzinga reports. Mizuho currently has a neutral rating on the stock.

APLS has been the topic of several other research reports. William Blair initiated coverage on shares of Apellis Pharmaceuticals in a report on Wednesday, October 16th. They issued an “outperform” rating on the stock. Scotiabank assumed coverage on Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $35.00 price objective on the stock. Robert W. Baird decreased their target price on Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. JPMorgan Chase & Co. lowered their target price on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Finally, Wells Fargo & Company cut their price target on Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.41.

Apellis Pharmaceuticals Stock Performance

NASDAQ APLS opened at $26.68 on Thursday. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -7.71 and a beta of 0.87. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. Apellis Pharmaceuticals has a twelve month low of $26.28 and a twelve month high of $73.80. The stock has a fifty day simple moving average of $33.22 and a 200 day simple moving average of $38.51.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.03. The company had revenue of $199.70 million during the quarter, compared to analysts’ expectations of $190.89 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The business’s quarterly revenue was up 110.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.02) earnings per share. Sell-side analysts expect that Apellis Pharmaceuticals will post -1.37 EPS for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the transaction, the director now owns 100,000 shares in the company, valued at $3,623,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Apellis Pharmaceuticals during the first quarter valued at about $3,218,000. Edgestream Partners L.P. purchased a new stake in Apellis Pharmaceuticals in the 1st quarter valued at about $942,000. Envestnet Asset Management Inc. lifted its position in shares of Apellis Pharmaceuticals by 42.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock worth $5,161,000 after buying an additional 39,931 shares in the last quarter. Profund Advisors LLC boosted its stake in shares of Apellis Pharmaceuticals by 90.7% in the 2nd quarter. Profund Advisors LLC now owns 42,968 shares of the company’s stock worth $1,648,000 after buying an additional 20,435 shares during the last quarter. Finally, Algert Global LLC boosted its stake in shares of Apellis Pharmaceuticals by 137.8% in the 2nd quarter. Algert Global LLC now owns 123,628 shares of the company’s stock worth $4,742,000 after buying an additional 71,650 shares during the last quarter. 96.29% of the stock is 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).