Apellis Pharmaceuticals (NASDAQ:APLS) Hits New 52-Week Low - What's Next?

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $16.98 and last traded at $17.26, with a volume of 127379 shares traded. The stock had previously closed at $17.54.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Wedbush reduced their target price on Apellis Pharmaceuticals from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. HC Wainwright reissued a "buy" rating and issued a $57.00 price objective on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. Scotiabank increased their price objective on Apellis Pharmaceuticals from $30.00 to $31.00 and gave the company a "sector perform" rating in a report on Wednesday, April 2nd. Finally, Royal Bank of Canada lowered their target price on Apellis Pharmaceuticals from $24.00 to $21.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. Eight research 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, Apellis Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.35.

Apellis Pharmaceuticals Trading Down 0.3 %

The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -8.62 and a beta of 0.85. The business has a 50 day moving average price of $22.70 and a 200-day moving average price of $27.66.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last issued its quarterly earnings results on Friday, February 28th. The company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The firm had revenue of $212.50 million during the quarter, compared to the consensus estimate of $197.92 million. During the same quarter in the prior year, the business posted ($0.73) earnings per share. Apellis Pharmaceuticals's revenue for the quarter was up 45.2% on a year-over-year basis. As a group, research analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Cedric Francois sold 2,824 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $29.52, for a total value of $83,364.48. Following the sale, the chief executive officer now directly owns 415,695 shares in the company, valued at $12,271,316.40. This trade represents a 0.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David O. Watson sold 5,569 shares of Apellis Pharmaceuticals stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $25.10, for a total value of $139,781.90. Following the transaction, the general counsel now directly owns 138,730 shares in the company, valued at approximately $3,482,123. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,005 shares of company stock valued at $299,037. Insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Large investors have recently made changes to their positions in the business. 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. Signaturefd LLC boosted its position in shares of Apellis Pharmaceuticals by 357.2% in 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 during the period. GF Fund Management CO. LTD. bought a new position in Apellis Pharmaceuticals in the fourth quarter worth $83,000. US Bancorp DE lifted its position in Apellis Pharmaceuticals by 70.0% in the fourth quarter. US Bancorp DE now owns 3,223 shares of the company's stock worth $103,000 after purchasing an additional 1,327 shares during the period. Finally, Covestor Ltd lifted its position in Apellis Pharmaceuticals by 1,819.2% in the fourth quarter. Covestor Ltd now owns 3,992 shares of the company's stock worth $127,000 after purchasing an additional 3,784 shares during the period. Institutional investors and hedge funds 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).