Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $32.00 by Analysts at Piper Sandler

Apellis Pharmaceuticals (NASDAQ:APLS - Free Report) had its price objective reduced by Piper Sandler from $40.00 to $32.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently weighed in on APLS. Wedbush lifted their target price on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a "neutral" rating in a research note on Friday, August 9th. Robert W. Baird lowered their target price on Apellis Pharmaceuticals from $96.00 to $92.00 and set an "outperform" rating on the stock in a research note on Monday, September 23rd. Mizuho lowered their target price on Apellis Pharmaceuticals from $39.00 to $38.00 and set a "neutral" rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $25.00 target price on shares of Apellis Pharmaceuticals in a research note on Monday. Finally, Bank of America lowered their target price on Apellis Pharmaceuticals from $61.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday. Six 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $53.24.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS traded up $0.75 during midday trading on Wednesday, reaching $28.83. 3,842,937 shares of the company traded hands, compared to its average volume of 1,780,806. Apellis Pharmaceuticals has a 52 week low of $24.34 and a 52 week high of $73.80. The stock has a 50-day moving average price of $31.58 and a 200 day moving average price of $37.26. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. The company has a market cap of $3.51 billion, a price-to-earnings ratio of -10.28 and a beta of 0.87.

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

Insider Transactions at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals 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 sale, the director now directly owns 100,000 shares of the company's stock, valued at approximately $3,623,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. HighVista Strategies LLC boosted its position in Apellis Pharmaceuticals by 4.1% in the second quarter. HighVista Strategies LLC now owns 7,566 shares of the company's stock valued at $290,000 after buying an additional 300 shares in the last quarter. Amalgamated Bank raised its stake in shares of Apellis Pharmaceuticals by 5.4% during the second quarter. Amalgamated Bank now owns 6,995 shares of the company's stock valued at $268,000 after acquiring an additional 359 shares during the last quarter. Simplicity Wealth LLC raised its stake in Apellis Pharmaceuticals by 0.6% during the second quarter. Simplicity Wealth LLC now owns 78,746 shares of the company's stock worth $3,021,000 after buying an additional 499 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Apellis Pharmaceuticals by 8.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,694 shares of the company's stock worth $511,000 after buying an additional 664 shares during the last quarter. Finally, KBC Group NV grew its holdings in Apellis Pharmaceuticals by 34.8% in the third quarter. KBC Group NV now owns 2,632 shares of the company's stock worth $76,000 after purchasing an additional 679 shares during the period. 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).