Royal Bank of Canada Has Lowered Expectations for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) had its target price dropped by research analysts at Royal Bank of Canada from $24.00 to $21.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank of Canada's target price would suggest a potential upside of 22.39% from the company's previous close.

Several other research analysts have also recently issued reports on APLS. The Goldman Sachs Group reduced their target price on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. lifted their price objective on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Scotiabank upped their target price on Apellis Pharmaceuticals from $30.00 to $31.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 2nd. Wedbush reduced their price target on Apellis Pharmaceuticals from $30.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Finally, HC Wainwright restated a "buy" rating and issued a $57.00 price objective on shares of Apellis Pharmaceuticals in a research report on Monday, March 3rd. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $45.35.

Apellis Pharmaceuticals Stock Performance

Apellis Pharmaceuticals stock traded down $0.38 during trading hours on Monday, hitting $17.16. 209,498 shares of the stock traded hands, compared to its average volume of 2,151,634. Apellis Pharmaceuticals has a 1 year low of $16.99 and a 1 year high of $50.98. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -8.45 and a beta of 0.85. 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's 50 day moving average price is $23.11 and its 200-day moving average price is $27.79.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last issued its 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 for the quarter, compared to analyst estimates of $197.92 million. During the same quarter in the prior year, the firm earned ($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, equities analysts expect that Apellis Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Xponance Inc. raised its holdings in Apellis Pharmaceuticals by 5.6% in the 4th quarter. Xponance Inc. now owns 14,072 shares of the company's stock valued at $449,000 after buying an additional 749 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Apellis Pharmaceuticals by 2,707.1% during 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 last quarter. Woodline Partners LP raised its stake in shares of Apellis Pharmaceuticals by 0.5% in the 4th 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 raised its stake in shares of Apellis Pharmaceuticals by 357.2% in the 4th 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. Finally, US Bancorp DE lifted its holdings in shares of Apellis Pharmaceuticals by 70.0% in the 4th quarter. US Bancorp DE now owns 3,223 shares of the company's stock worth $103,000 after acquiring an additional 1,327 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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).