Apellis Pharmaceuticals’ (APLS) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Apellis Pharmaceuticals (NASDAQ:APLS)‘s stock had its “sector perform” rating reissued by investment analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $26.00 price target on the stock. Royal Bank of Canada’s price objective suggests a potential downside of 14.45% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Evercore ISI upgraded shares of Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. Citigroup decreased their price target on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Scotiabank dropped their price objective on Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. The Goldman Sachs Group cut Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a research note on Tuesday, December 17th. Finally, Mizuho dropped their price target on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Apellis Pharmaceuticals Trading Up 0.9 %

APLS opened at $30.39 on Tuesday. Apellis Pharmaceuticals has a fifty-two week low of $24.34 and a fifty-two week high of $71.90. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -14.97 and a beta of 0.94. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The firm has a 50 day simple moving average of $31.95 and a 200 day simple moving average of $33.25.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The company had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same period last year, the firm earned ($1.17) earnings per share. The firm’s revenue for the quarter was up 78.3% on a year-over-year basis. On average, sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.71 earnings per share for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, insider Nur Nicholson sold 2,145 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $29.96, for a total transaction of $64,264.20. Following the completion of the sale, the insider now owns 52,011 shares in the company, valued at approximately $1,558,249.56. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Caroline Baumal sold 2,816 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the transaction, the insider now owns 55,560 shares in the company, valued at approximately $1,878,483.60. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,106 shares of company stock worth $894,834 over the last quarter. 6.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Apellis Pharmaceuticals by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock worth $112,036,000 after purchasing an additional 735,160 shares during the last quarter. Braidwell LP lifted its holdings in shares of Apellis Pharmaceuticals by 410.8% during the third quarter. Braidwell LP now owns 3,125,183 shares of the company’s stock worth $90,130,000 after buying an additional 2,513,383 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Apellis Pharmaceuticals by 191.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock valued at $61,845,000 after acquiring an additional 1,409,707 shares during the period. Geode Capital Management LLC grew its stake in shares of Apellis Pharmaceuticals by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,810,526 shares of the company’s stock valued at $52,229,000 after acquiring an additional 22,609 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Apellis Pharmaceuticals by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 956,362 shares of the company’s stock worth $27,581,000 after acquiring an additional 9,328 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).