Royal Bank of Canada Has Lowered Expectations for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS - Free Report) had its price objective trimmed by Royal Bank of Canada from $26.00 to $25.00 in a report issued on Monday,Benzinga reports. The firm currently has a sector perform rating on the stock.

APLS has been the subject of several other research reports. Wedbush cut their price target on Apellis Pharmaceuticals from $30.00 to $29.00 and set a "neutral" rating for the company in a report on Monday. Piper Sandler lowered their price target on Apellis Pharmaceuticals from $40.00 to $32.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group cut their target price on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating for the company in a research note on Monday. Bank of America reduced their price target on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company decreased their price objective on 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. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Apellis Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.53.

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Apellis Pharmaceuticals Stock Down 2.6 %

Shares of NASDAQ APLS traded down $0.68 during mid-day trading on Monday, reaching $25.32. The company had a trading volume of 1,186,955 shares, compared to its average volume of 1,921,061. The stock has a fifty day moving average of $29.38 and a two-hundred day moving average of $31.26. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of -12.47 and a beta of 0.93. Apellis Pharmaceuticals has a 12-month low of $23.77 and a 12-month high of $64.33. 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 Friday, February 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm had revenue of $212.50 million during the quarter, compared to analysts' expectations of $197.92 million. During the same period in the prior year, the company posted ($0.73) earnings per share. Apellis Pharmaceuticals's revenue for the quarter was up 45.2% on a year-over-year basis. As a group, equities research analysts expect that Apellis Pharmaceuticals will post -1.7 EPS for the current year.

Insider Buying and Selling

In related news, CEO Cedric Francois sold 6,247 shares of the business's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.70, for a total transaction of $179,288.90. Following the transaction, the chief executive officer now owns 307,415 shares in the company, valued at $8,822,810.50. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Caroline Baumal sold 2,816 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the sale, the insider now directly owns 55,560 shares of the company's stock, valued at $1,878,483.60. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,365 shares of company stock valued at $1,810,479 in the last three months. Insiders own 6.80% of the company's stock.

Institutional Trading of Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in APLS. Braidwell LP boosted its holdings in Apellis Pharmaceuticals by 410.8% during the third quarter. Braidwell LP now owns 3,125,183 shares of the company's stock worth $90,130,000 after purchasing an additional 2,513,383 shares during the last quarter. Boxer Capital Management LLC bought a new position in shares of Apellis Pharmaceuticals during the 4th quarter worth approximately $45,504,000. National Bank of Canada FI boosted its stake in shares of Apellis Pharmaceuticals by 266,361.5% in the 4th quarter. National Bank of Canada FI now owns 1,385,600 shares of the company's stock worth $44,214,000 after buying an additional 1,385,080 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Apellis Pharmaceuticals by 969.6% in the fourth quarter. Royal Bank of Canada now owns 1,518,827 shares of the company's stock valued at $48,465,000 after acquiring an additional 1,376,832 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of Apellis Pharmaceuticals during the fourth quarter valued at approximately $41,014,000. Hedge funds and other 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).