Apellis Pharmaceuticals’ (NASDAQ:APLS) quiet period will expire on Tuesday, December 19th. Apellis Pharmaceuticals had issued 10,714,000 shares in its initial public offering on November 9th. The total size of the offering was $149,996,000 based on an initial share price of $14.00. During Apellis Pharmaceuticals’ quiet period, insiders and underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

A number of equities research analysts recently issued reports on APLS shares. Citigroup started coverage on Apellis Pharmaceuticals in a research report on Monday, December 4th. They set a “buy” rating and a $23.00 price target on the stock. Evercore ISI initiated coverage on Apellis Pharmaceuticals in a research report on Monday, December 4th. They set an “outperform” rating on the stock. Finally, J P Morgan Chase & Co initiated coverage on Apellis Pharmaceuticals in a research note on Monday, December 4th. They set an “overweight” rating and a $31.00 target price for the company.

Shares of Apellis Pharmaceuticals (NASDAQ:APLS) opened at $13.05 on Monday. Apellis Pharmaceuticals has a 12 month low of $12.45 and a 12 month high of $15.41.

In other Apellis Pharmaceuticals news, major shareholder Global Strategic Fund I. Venbio bought 127,515 shares of the business’s stock in a transaction on Monday, November 13th. The stock was purchased at an average cost of $14.00 per share, for a total transaction of $1,785,210.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company focuses on the discovery and development of therapeutic compounds for autoimmune and inflammatory diseases. The Company’s lead compounds are designed to inhibit complement component 3 (C3), the central protein in the complement cascade.

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