JPMorgan Chase & Co. Issues Pessimistic Forecast for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $40.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 78.99% from the company’s current price.

A number of other equities analysts have also recently weighed in on APLS. Mizuho reduced their price target on shares of Apellis Pharmaceuticals from $24.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday. Weiss Ratings reissued a “sell (e+)” rating on shares of Apellis Pharmaceuticals in a research report on Wednesday, October 8th. TD Cowen dropped their target price on shares of Apellis Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, October 31st. The Goldman Sachs Group cut shares of Apellis Pharmaceuticals from a “neutral” rating to a “sell” rating and dropped their target price for the company from $26.00 to $18.00 in a report on Friday, September 26th. Finally, HC Wainwright decreased their price objective on Apellis Pharmaceuticals from $57.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.39.

Apellis Pharmaceuticals Price Performance

Shares of Apellis Pharmaceuticals stock traded down $0.36 during midday trading on Wednesday, reaching $20.11. The company had a trading volume of 1,163,738 shares, compared to its average volume of 2,360,602. The company has a current ratio of 3.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 64.59 and a beta of 0.70. The stock has a fifty day simple moving average of $25.23 and a 200 day simple moving average of $21.77. Apellis Pharmaceuticals has a 1-year low of $16.10 and a 1-year high of $35.72.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.64. Apellis Pharmaceuticals had a net margin of 4.43% and a return on equity of 18.94%. The business had revenue of $458.58 million during the quarter, compared to analyst estimates of $364.58 million. During the same quarter last year, the business posted ($0.46) earnings per share. Apellis Pharmaceuticals’s revenue for the quarter was up 133.0% compared to the same quarter last year. As a group, equities research analysts forecast that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $25.22, for a total value of $126,100.00. Following the completion of the sale, the general counsel directly owned 113,730 shares in the company, valued at approximately $2,868,270.60. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Eugene Sullivan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $28.03, for a total transaction of $280,300.00. Following the completion of the sale, the chief financial officer owned 110,936 shares of the company’s stock, valued at $3,109,536.08. The trade was a 8.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 312,921 shares of company stock worth $8,490,866 over the last ninety days. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in shares of Apellis Pharmaceuticals by 3,938.7% in the 1st quarter. Assetmark Inc. now owns 1,252 shares of the company’s stock valued at $27,000 after purchasing an additional 1,221 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Apellis Pharmaceuticals by 80.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,924 shares of the company’s stock valued at $33,000 after purchasing an additional 855 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Apellis Pharmaceuticals by 206.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,037 shares of the company’s stock valued at $46,000 after purchasing an additional 1,373 shares in the last quarter. Osaic Holdings Inc. boosted its stake in shares of Apellis Pharmaceuticals by 141.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,682 shares of the company’s stock valued at $47,000 after purchasing an additional 1,570 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Apellis Pharmaceuticals by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,855 shares of the company’s stock valued at $84,000 after buying an additional 655 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

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).