Bank of America Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $47.00

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) had its price target lowered by Bank of America from $61.00 to $47.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price target indicates a potential upside of 67.02% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Scotiabank assumed coverage on Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $35.00 price target on the stock. Mizuho lowered their price target on Apellis Pharmaceuticals from $39.00 to $38.00 and set a "neutral" rating on the stock in a report on Thursday, October 24th. William Blair assumed coverage on Apellis Pharmaceuticals in a report on Wednesday, October 16th. They set an "outperform" rating for the company. Wedbush upped their target price on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a "neutral" rating in a report on Friday, August 9th. Finally, UBS Group cut their price target on Apellis Pharmaceuticals from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.24.

Apellis Pharmaceuticals Trading Up 0.2 %

Shares of APLS traded up $0.06 during trading on Wednesday, reaching $28.14. 1,989,244 shares of the company traded hands, compared to its average volume of 1,772,184. The stock has a 50-day simple moving average of $31.58 and a 200-day simple moving average of $37.26. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. Apellis Pharmaceuticals has a twelve month low of $24.34 and a twelve month high of $73.80. The stock has a market cap of $3.43 billion, a PE ratio of -10.28 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its quarterly earnings results 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 return on equity of 138.32% and a negative net margin of 52.99%. The firm had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same quarter last year, the company earned ($1.17) earnings per share. The firm's revenue for the quarter was up 78.3% on a year-over-year basis. On average, 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 firm'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 transaction, the director now owns 100,000 shares of the company's stock, valued at $3,623,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several institutional investors have recently modified their holdings of the company. Wolverine Asset Management LLC acquired a new position in Apellis Pharmaceuticals during the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP acquired a new position in shares of Apellis Pharmaceuticals during the third quarter worth approximately $56,000. KBC Group NV increased its position in Apellis Pharmaceuticals by 34.8% in the 3rd quarter. KBC Group NV now owns 2,632 shares of the company's stock valued at $76,000 after acquiring an additional 679 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Apellis Pharmaceuticals during the 1st quarter valued at $89,000. Finally, nVerses Capital LLC grew its stake in shares of Apellis Pharmaceuticals by 300.0% in the second quarter. nVerses Capital LLC now owns 2,800 shares of the company's stock worth $107,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors 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).