Zacks Investment Research Downgrades Apellis Pharmaceuticals (APLS) to Sell

Zacks Investment Research downgraded shares of Apellis Pharmaceuticals (NASDAQ:APLS) from a hold rating to a sell rating in a report issued on Monday morning.

According to Zacks, “Apellis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It focused on the development of novel therapeutic compounds to treat disease through the inhibition of the complement system, which is an integral component of the immune system, at the level of C3, the central protein in the complement cascade. Apellis Pharmaceuticals, Inc. is based in CRESTWOOD, United States. “

Several other equities analysts have also commented on APLS. Cantor Fitzgerald reaffirmed a buy rating and issued a $53.00 price objective on shares of Apellis Pharmaceuticals in a research report on Thursday, December 20th. ValuEngine raised shares of Apellis Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, November 1st. Citigroup increased their price objective on shares of Apellis Pharmaceuticals from $34.00 to $40.00 and gave the company a buy rating in a research report on Thursday, December 6th. JPMorgan Chase & Co. decreased their price objective on shares of Apellis Pharmaceuticals from $38.00 to $34.00 and set an overweight rating for the company in a research report on Wednesday, November 14th. Finally, B. Riley increased their price objective on shares of Apellis Pharmaceuticals from $27.00 to $40.00 and gave the company a buy rating in a research report on Thursday, September 13th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $38.67.

NASDAQ:APLS opened at $14.00 on Monday. Apellis Pharmaceuticals has a fifty-two week low of $11.45 and a fifty-two week high of $32.00. The stock has a market capitalization of $783.46 million, a PE ratio of -3.81 and a beta of 0.26. The company has a current ratio of 14.90, a quick ratio of 14.91 and a debt-to-equity ratio of 0.14.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data on Tuesday, November 13th. The company reported ($0.64) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.05. As a group, equities research analysts forecast that Apellis Pharmaceuticals will post -2.38 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hillhouse Capital Management Ltd. raised its position in Apellis Pharmaceuticals by 203.0% during the 2nd quarter. Hillhouse Capital Management Ltd. now owns 4,328,289 shares of the company’s stock worth $95,222,000 after buying an additional 2,899,718 shares during the last quarter. BlackRock Inc. raised its position in Apellis Pharmaceuticals by 1.9% during the 3rd quarter. BlackRock Inc. now owns 2,853,195 shares of the company’s stock worth $50,730,000 after buying an additional 54,227 shares during the last quarter. Vanguard Group Inc. raised its position in Apellis Pharmaceuticals by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,414,900 shares of the company’s stock worth $25,157,000 after buying an additional 72,610 shares during the last quarter. Vanguard Group Inc raised its position in Apellis Pharmaceuticals by 5.4% during the 3rd quarter. Vanguard Group Inc now owns 1,414,900 shares of the company’s stock worth $25,157,000 after buying an additional 72,610 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Apellis Pharmaceuticals by 44.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,347,753 shares of the company’s stock worth $23,963,000 after buying an additional 415,000 shares during the last quarter. 55.94% of the stock is owned by institutional investors.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapeutic compounds for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 to treat geographic atrophy, wet age-related macular degeneration, paroxysmal nocturnal hemoglobinuria, autoimmune hemolytic anemia, and nephrology.

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