Robert W. Baird Has Lowered Expectations for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) had its target price decreased by equities researchers at Robert W. Baird from $92.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's price objective indicates a potential upside of 91.37% from the company's current price.

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Apellis Pharmaceuticals from $64.00 to $57.00 and set an "overweight" rating on the stock in a research note on Friday, September 13th. Citigroup lowered their price objective on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday. Bank of America cut their price objective on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a "buy" rating for the company in a research report on Wednesday. Scotiabank lowered their target price on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a "sector perform" rating on the stock in a report on Wednesday. Finally, Evercore ISI raised shares of Apellis Pharmaceuticals to a "strong-buy" rating in a report on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.06.

Apellis Pharmaceuticals Trading Down 0.3 %

Shares of APLS traded down $0.09 during mid-day trading on Thursday, reaching $28.74. 2,097,603 shares of the company's stock were exchanged, compared to its average volume of 2,631,123. The business's fifty day simple moving average is $31.19 and its 200-day simple moving average is $37.14. Apellis Pharmaceuticals has a 52-week low of $24.34 and a 52-week high of $73.80. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The business had revenue of $196.83 million during the quarter, compared to analyst estimates of $200.00 million. During the same quarter in the prior year, the firm posted ($1.17) earnings per share. The company's revenue for the quarter was up 78.3% compared to the same quarter last year. Sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.4 earnings per share for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the company's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the sale, the director now owns 100,000 shares of the company's stock, valued at $3,623,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its stake in Apellis Pharmaceuticals by 191.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company's stock valued at $61,845,000 after purchasing an additional 1,409,707 shares during the last quarter. Fiera Capital Corp raised its position in shares of Apellis Pharmaceuticals by 47.7% in the second quarter. Fiera Capital Corp now owns 1,401,190 shares of the company's stock valued at $53,750,000 after buying an additional 452,753 shares during the last quarter. Iron Triangle Partners LP purchased a new position in shares of Apellis Pharmaceuticals during the first quarter valued at approximately $32,329,000. Bank of New York Mellon Corp boosted its position in Apellis Pharmaceuticals by 6.9% during the second quarter. Bank of New York Mellon Corp now owns 345,195 shares of the company's stock worth $13,242,000 after acquiring an additional 22,273 shares during the last quarter. Finally, Altitude Crest Partners Inc. grew its stake in Apellis Pharmaceuticals by 88.7% in the 1st quarter. Altitude Crest Partners Inc. now owns 287,277 shares of the company's stock worth $16,886,000 after acquiring an additional 135,077 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).