Piper Sandler Has Lowered Expectations for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective cut by Piper Sandler from $40.00 to $32.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently issued reports on APLS. Needham & Company LLC lowered their price objective on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday. William Blair started coverage on shares of Apellis Pharmaceuticals in a report on Wednesday, October 16th. They issued an “outperform” rating on the stock. The Goldman Sachs Group increased their price objective on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Scotiabank began coverage on shares of Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $35.00 target price on the stock. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $80.00 price target on shares of Apellis Pharmaceuticals in a research report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Apellis Pharmaceuticals Stock Performance

NASDAQ APLS opened at $29.98 on Wednesday. The company’s fifty day moving average is $31.02 and its two-hundred day moving average is $36.94. Apellis Pharmaceuticals has a 52-week low of $24.34 and a 52-week high of $73.80. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 4.18. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -14.77 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The firm had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The firm’s quarterly revenue was up 78.3% compared to the same quarter last year. During the same period last year, the business earned ($1.17) earnings per share. Equities research analysts forecast that Apellis Pharmaceuticals will post -1.5 EPS for the current year.

Insider Transactions at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the sale, the director now owns 100,000 shares of the company’s stock, valued at $3,623,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 6.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Wolverine Asset Management LLC bought a new stake in shares of Apellis Pharmaceuticals during the third quarter worth approximately $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Apellis Pharmaceuticals during the 1st quarter worth $89,000. Capital Performance Advisors LLP bought a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter valued at $56,000. KBC Group NV lifted its stake in shares of Apellis Pharmaceuticals by 34.8% in the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after purchasing an additional 679 shares during the period. Finally, nVerses Capital LLC lifted its stake in shares of Apellis Pharmaceuticals by 300.0% in the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after purchasing an additional 2,100 shares during the period. Institutional investors own 96.29% of the company’s stock.

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).