Oppenheimer Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $40.00

Apellis Pharmaceuticals (NASDAQ:APLS - Free Report) had its target price trimmed by Oppenheimer from $65.00 to $40.00 in a report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on APLS. Bank of America lowered their price objective on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an "overweight" rating on the stock in a research note on Friday, September 13th. William Blair initiated coverage on shares of Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued an "outperform" rating on the stock. Wells Fargo & Company lowered their price objective on shares of 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, Jefferies Financial Group reissued a "buy" rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apellis Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $53.24.

Apellis Pharmaceuticals Stock Performance

APLS stock traded up $0.75 on Wednesday, hitting $28.83. The company's stock had a trading volume of 3,842,937 shares, compared to its average volume of 1,780,806. The firm has a 50 day moving average of $31.58 and a two-hundred day moving average of $37.26. Apellis Pharmaceuticals has a 1 year low of $24.34 and a 1 year high of $73.80. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of -10.28 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 announced 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). The firm had revenue of $196.83 million for the quarter, compared to analysts' expectations of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm's quarterly revenue was up 78.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.17) EPS. Equities analysts predict 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 Apellis Pharmaceuticals stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the sale, the director now owns 100,000 shares in the company, valued at $3,623,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.80% of the company's stock.

Institutional Trading of Apellis Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. KBC Group NV grew its position in shares of Apellis Pharmaceuticals by 34.8% during the third quarter. KBC Group NV now owns 2,632 shares of the company's stock worth $76,000 after buying an additional 679 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Apellis Pharmaceuticals in the third quarter worth $824,000. Wolverine Asset Management LLC acquired a new position in Apellis Pharmaceuticals in the third quarter worth $27,000. State of New Jersey Common Pension Fund D boosted its holdings in Apellis Pharmaceuticals by 10.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 49,795 shares of the company's stock worth $1,436,000 after purchasing an additional 4,554 shares during the period. Finally, Assetmark Inc. boosted its holdings in Apellis Pharmaceuticals by 6.6% in the third quarter. Assetmark Inc. now owns 46,065 shares of the company's stock worth $1,329,000 after purchasing an additional 2,852 shares during the period. Institutional investors and hedge funds 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).