Apellis Pharmaceuticals (NASDAQ:APLS) Given New $47.00 Price Target at Bank of America

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price reduced by stock analysts at Bank of America from $61.00 to $47.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 67.41% from the stock’s current price.

APLS has been the subject of a number of other reports. UBS Group lowered their price target on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating for the company in a report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $85.00 target price on shares of Apellis Pharmaceuticals in a research note on Friday, September 20th. JPMorgan Chase & Co. dropped their price target on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Wells Fargo & Company reduced 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, Mizuho cut their target price on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.18.

Apellis Pharmaceuticals Trading Down 1.7 %

Shares of APLS opened at $28.08 on Wednesday. Apellis Pharmaceuticals has a 12 month low of $24.34 and a 12 month high of $73.80. The stock’s 50-day moving average is $31.58 and its two-hundred day moving average is $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 stock has a market cap of $3.42 billion, a PE ratio of -10.25 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The company had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same period last year, the firm posted ($1.17) earnings per share. The business’s revenue was up 78.3% on a year-over-year basis. Equities analysts forecast that Apellis Pharmaceuticals will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 100,000 shares in the company, 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 this link. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wolverine Asset Management LLC purchased a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter valued at approximately $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Apellis Pharmaceuticals in the first quarter worth $89,000. Capital Performance Advisors LLP acquired a new stake in Apellis Pharmaceuticals during the 3rd quarter worth about $56,000. nVerses Capital LLC grew its stake in Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Apellis Pharmaceuticals by 1,300.8% in the 1st quarter. Russell Investments Group Ltd. now owns 3,586 shares of the company’s stock valued at $211,000 after purchasing an additional 3,330 shares during the period. 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).