Apellis Pharmaceuticals (NASDAQ:APLS) Shares Up 8.8% - Should You Buy?

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Get Free Report) shot up 8.8% on Friday . The company traded as high as $30.24 and last traded at $30.20. 824,808 shares traded hands during trading, a decline of 56% from the average session volume of 1,895,991 shares. The stock had previously closed at $27.75.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $25.00 target price on shares of Apellis Pharmaceuticals in a report on Monday, November 4th. Morgan Stanley initiated coverage on Apellis Pharmaceuticals in a report on Thursday. They set an "equal weight" rating and a $31.00 target price on the stock. Bank of America decreased their price target on Apellis Pharmaceuticals from $61.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Wells Fargo & Company reduced their target price on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 6th. Finally, Piper Sandler dropped their price target on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $49.94.

Apellis Pharmaceuticals Stock Up 10.9 %

The business's 50-day moving average is $29.06 and its 200-day moving average is $35.79. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -14.85 and a beta of 0.87. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same quarter in the prior year, the firm posted ($1.17) EPS. The firm's revenue for the quarter was up 78.3% compared to the same quarter last year. On average, equities analysts predict that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

Insider Activity

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company's stock, valued at approximately $3,623,000. This represents a 27.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Braidwell LP lifted its stake in Apellis Pharmaceuticals by 410.8% in the third quarter. Braidwell LP now owns 3,125,183 shares of the company's stock valued at $90,130,000 after acquiring an additional 2,513,383 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Apellis Pharmaceuticals by 191.9% during the third quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company's stock worth $61,845,000 after purchasing an additional 1,409,707 shares during the period. Geode Capital Management LLC increased its position in Apellis Pharmaceuticals by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,810,526 shares of the company's stock worth $52,229,000 after buying an additional 22,609 shares during the last quarter. Fiera Capital Corp raised its stake in 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 period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Apellis Pharmaceuticals by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 956,362 shares of the company's stock valued at $27,581,000 after buying an additional 9,328 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

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).

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