Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Raised to $31.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price raised by stock analysts at Scotiabank from $30.00 to $31.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price points to a potential upside of 37.66% from the company’s current price.

APLS has been the topic of several other research reports. JPMorgan Chase & Co. lifted their target price on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada cut their price objective on shares of Apellis Pharmaceuticals from $26.00 to $25.00 and set a “sector perform” rating on the stock in a report on Monday, March 3rd. Wedbush lowered their target price on shares of Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. HC Wainwright restated a “buy” rating and set a $57.00 price target on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. Finally, The Goldman Sachs Group decreased their price objective on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.59.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $22.52 on Wednesday. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. The firm has a fifty day simple moving average of $26.42 and a two-hundred day simple moving average of $29.16. Apellis Pharmaceuticals has a 12 month low of $21.70 and a 12 month high of $58.12. The firm has a market capitalization of $2.83 billion, a PE ratio of -11.09 and a beta of 0.85.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Friday, February 28th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The company had revenue of $212.50 million during the quarter, compared to the consensus estimate of $197.92 million. During the same period in the previous year, the firm posted ($0.73) earnings per share. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. Analysts forecast that Apellis Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Cedric Francois sold 6,247 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $28.70, for a total value of $179,288.90. Following the completion of the transaction, the chief executive officer now directly owns 307,415 shares of the company’s stock, valued at approximately $8,822,810.50. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James George Chopas sold 1,096 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total transaction of $33,351.28. Following the sale, the chief accounting officer now directly owns 48,138 shares in the company, valued at $1,464,839.34. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,054 shares of company stock valued at $1,952,719. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Xponance Inc. lifted its holdings in Apellis Pharmaceuticals by 5.6% during the 4th quarter. Xponance Inc. now owns 14,072 shares of the company’s stock worth $449,000 after purchasing an additional 749 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Apellis Pharmaceuticals by 2,707.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after acquiring an additional 758 shares during the period. Woodline Partners LP boosted its position in shares of Apellis Pharmaceuticals by 0.5% in the fourth quarter. Woodline Partners LP now owns 189,477 shares of the company’s stock valued at $6,046,000 after acquiring an additional 913 shares during the period. Signaturefd LLC grew its stake in Apellis Pharmaceuticals by 357.2% during the fourth quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock valued at $37,000 after acquiring an additional 918 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in Apellis Pharmaceuticals by 4.2% during the 3rd quarter. Toronto Dominion Bank now owns 25,622 shares of the company’s stock worth $739,000 after acquiring an additional 1,022 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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).