Apellis Pharmaceuticals (NASDAQ:APLS) PT Lowered to $57.00 at Wedbush

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective dropped by analysts at Wedbush from $67.00 to $57.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Wedbush’s price objective indicates a potential upside of 16.14% from the stock’s previous close.

A number of other research analysts have also recently commented on APLS. Oppenheimer increased their target price on Apellis Pharmaceuticals from $75.00 to $79.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Jefferies Financial Group raised Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $80.00 in a research note on Monday, February 5th. HC Wainwright reaffirmed a “buy” rating and set a $92.00 price objective on shares of Apellis Pharmaceuticals in a research note on Monday. Robert W. Baird reaffirmed an “outperform” rating and set a $81.00 price objective on shares of Apellis Pharmaceuticals in a research note on Tuesday, February 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price objective on shares of Apellis Pharmaceuticals in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.93.

Apellis Pharmaceuticals Price Performance

Shares of APLS stock traded down $2.74 on Wednesday, reaching $49.08. The company’s stock had a trading volume of 917,101 shares, compared to its average volume of 1,487,443. The company has a quick ratio of 2.50, a current ratio of 3.10 and a debt-to-equity ratio of 0.48. Apellis Pharmaceuticals has a 12-month low of $19.83 and a 12-month high of $94.75. The company has a market capitalization of $5.92 billion, a P/E ratio of -10.99 and a beta of 0.88. The stock’s 50 day simple moving average is $61.22 and its 200-day simple moving average is $57.00.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.73). The company had revenue of $146.38 million for the quarter, compared to the consensus estimate of $143.34 million. Apellis Pharmaceuticals had a negative return on equity of 178.60% and a negative net margin of 133.34%. The firm’s revenue was up 545.9% compared to the same quarter last year. During the same quarter last year, the business posted ($1.50) earnings per share. As a group, equities analysts predict that Apellis Pharmaceuticals will post -1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, insider Pascal Deschatelets sold 69,107 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $54.17, for a total value of $3,743,526.19. Following the completion of the sale, the insider now owns 1,115,983 shares of the company’s stock, valued at approximately $60,452,799.11. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, General Counsel David O. Watson sold 781 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $67.77, for a total transaction of $52,928.37. Following the completion of the sale, the general counsel now owns 103,390 shares of the company’s stock, valued at approximately $7,006,740.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Pascal Deschatelets sold 69,107 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the sale, the insider now directly owns 1,115,983 shares of the company’s stock, valued at approximately $60,452,799.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 406,651 shares of company stock valued at $25,130,257. Company insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of hedge funds have recently modified their holdings of APLS. First Horizon Advisors Inc. lifted its stake in shares of Apellis Pharmaceuticals by 69.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 649 shares of the company’s stock valued at $25,000 after buying an additional 265 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Apellis Pharmaceuticals during the 1st quarter valued at about $29,000. Covestor Ltd raised its position in shares of Apellis Pharmaceuticals by 564.2% during the 3rd quarter. Covestor Ltd now owns 797 shares of the company’s stock valued at $30,000 after buying an additional 677 shares in the last quarter. Stephens Consulting LLC purchased a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter valued at about $38,000. Finally, US Bancorp DE raised its position in shares of Apellis Pharmaceuticals by 391.2% during the 1st quarter. US Bancorp DE now owns 1,110 shares of the company’s stock valued at $56,000 after buying an additional 884 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

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).