Apellis Pharmaceuticals (NASDAQ:APLS) Receives "Sector Perform" Rating from Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS - Free Report) in a research note issued to investors on Monday, Benzinga reports. Royal Bank of Canada currently has a $25.00 price objective on the stock.

A number of other analysts have also commented on APLS. UBS Group dropped their price target on Apellis Pharmaceuticals from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Friday, August 9th. Evercore ISI upgraded Apellis Pharmaceuticals to a "strong-buy" rating in a report on Thursday. The Goldman Sachs Group boosted their target price on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Wells Fargo & Company decreased their price objective on Apellis Pharmaceuticals from $47.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. decreased their price objective 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. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $65.41.

Apellis Pharmaceuticals Trading Up 2.1 %

NASDAQ APLS traded up $0.58 during trading hours on Monday, hitting $28.56. 8,007,582 shares of the company's stock were exchanged, compared to its average volume of 1,729,695. The stock has a 50-day simple moving average of $32.04 and a 200 day simple moving average of $37.53. Apellis Pharmaceuticals has a 1-year low of $26.28 and a 1-year high of $73.80. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -10.42 and a beta of 0.87. The company has a current ratio of 5.08, a quick ratio of 4.18 and a debt-to-equity ratio of 1.73.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The business had revenue of $199.70 million during the quarter, compared to analysts' expectations of $190.89 million. During the same quarter last year, the firm posted ($1.02) earnings per share. The firm's revenue was up 110.2% on a year-over-year basis. On average, equities analysts forecast that Apellis Pharmaceuticals will post -1.4 EPS for the current fiscal year.

Insider Activity

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the sale, the director now owns 100,000 shares of the company's stock, valued at approximately $3,623,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. raised its position in shares of 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 worth $61,845,000 after acquiring an additional 1,409,707 shares in the last quarter. Fiera Capital Corp raised its holdings in Apellis Pharmaceuticals by 47.7% in the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company's stock worth $53,750,000 after purchasing an additional 452,753 shares during the period. Iron Triangle Partners LP bought a new position in Apellis Pharmaceuticals in the 1st quarter worth $32,329,000. Bank of New York Mellon Corp raised its holdings in Apellis Pharmaceuticals by 6.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 345,195 shares of the company's stock worth $13,242,000 after purchasing an additional 22,273 shares during the period. Finally, Altitude Crest Partners Inc. raised its holdings in Apellis Pharmaceuticals by 88.7% during the first quarter. Altitude Crest Partners Inc. now owns 287,277 shares of the company's stock valued at $16,886,000 after acquiring an additional 135,077 shares during the period. Institutional investors 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).