Wells Fargo & Company Lowers Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $30.00

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) had its price objective decreased by investment analysts at Wells Fargo & Company from $43.00 to $30.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 4.06% from the stock's previous close.

Several other analysts have also weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating and set a $80.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered 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. Piper Sandler cut their target price on Apellis Pharmaceuticals from $40.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday. Mizuho lowered their price target on Apellis Pharmaceuticals from $39.00 to $38.00 and set a "neutral" rating on the stock in a research report on Thursday, October 24th. Finally, Robert W. Baird cut their price objective on Apellis Pharmaceuticals from $96.00 to $92.00 and set an "outperform" rating for the company in a report on Monday, September 23rd. 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.24.

Apellis Pharmaceuticals Stock Performance

NASDAQ:APLS traded up $0.75 during trading hours on Wednesday, hitting $28.83. 3,842,926 shares of the company traded hands, compared to its average volume of 1,780,806. 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 has a twelve month low of $24.34 and a twelve month high of $73.80. The firm has a 50-day moving average of $31.58 and a 200 day moving average of $37.26. The stock has a market capitalization 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 released its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The company had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. During the same quarter in the previous year, the business posted ($1.17) EPS. The firm's quarterly revenue was up 78.3% on a year-over-year basis. On average, analysts forecast that Apellis Pharmaceuticals will post -1.4 EPS for the current year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction on 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 sale, the director now directly owns 100,000 shares in the company, valued at approximately $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 accessible through the SEC website. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its position in shares of Apellis Pharmaceuticals by 191.9% during the third quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company's stock worth $61,845,000 after buying an additional 1,409,707 shares during the period. Fiera Capital Corp increased its stake in Apellis Pharmaceuticals by 47.7% in the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company's stock valued at $53,750,000 after buying an additional 452,753 shares during the last quarter. Iron Triangle Partners LP bought a new stake in Apellis Pharmaceuticals during the 1st quarter worth about $32,329,000. Bank of New York Mellon Corp boosted its stake in shares of Apellis Pharmaceuticals by 6.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 345,195 shares of the company's stock worth $13,242,000 after buying an additional 22,273 shares during the last quarter. Finally, Altitude Crest Partners Inc. grew its holdings in shares of Apellis Pharmaceuticals by 88.7% in the 1st 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 in the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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).