Apellis Pharmaceuticals (NASDAQ:APLS) Shares Up 8.4%

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)’s stock price shot up 8.4% during trading on Monday . The company traded as high as $34.10 and last traded at $34.05. 10,570 shares traded hands during trading, a decline of 99% from the average session volume of 1,014,041 shares. The stock had previously closed at $31.40.

A number of research firms recently commented on APLS. Needham & Company LLC lowered their price target on shares of Apellis Pharmaceuticals from $85.00 to $70.00 and set a “buy” rating for the company in a report on Friday, September 10th. BMO Capital Markets lowered their price target on shares of Apellis Pharmaceuticals from $89.00 to $69.00 and set an “outperform” rating for the company in a report on Friday, September 10th. Credit Suisse Group decreased their price objective on shares of Apellis Pharmaceuticals from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Friday, September 10th. Raymond James upgraded shares of Apellis Pharmaceuticals from an “outperform” rating to a “strong-buy” rating in a report on Sunday, September 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Apellis Pharmaceuticals from $91.00 to $101.00 and gave the stock an “overweight” rating in a report on Friday, July 2nd. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Apellis Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $70.44.

The company’s 50-day moving average is $55.97 and its 200 day moving average is $53.53. The company has a market capitalization of $3.03 billion, a PE ratio of -5.69 and a beta of 1.48. The company has a debt-to-equity ratio of 7.48, a quick ratio of 4.13 and a current ratio of 4.15.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data on Sunday, August 8th. The company reported ($2.72) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.70) by ($1.02). The company had revenue of $0.62 million for the quarter, compared to the consensus estimate of $2.26 million. On average, analysts forecast that Apellis Pharmaceuticals, Inc. will post -7.96 EPS for the current fiscal year.

In other news, Director Alec Machiels sold 2,500 shares of the stock in a transaction that occurred on Thursday, July 15th. The shares were sold at an average price of $62.30, for a total value of $155,750.00. Following the transaction, the director now owns 672,044 shares in the company, valued at approximately $41,868,341.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Federico Grossi sold 500 shares of the stock in a transaction that occurred on Wednesday, July 14th. The stock was sold at an average price of $64.68, for a total transaction of $32,340.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,250 shares of company stock worth $331,810 over the last three months. 9.50% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC bought a new stake in Apellis Pharmaceuticals during the 2nd quarter worth approximately $30,000. FORA Capital LLC bought a new stake in Apellis Pharmaceuticals during the 1st quarter worth approximately $59,000. O Shaughnessy Asset Management LLC bought a new stake in Apellis Pharmaceuticals during the 2nd quarter worth approximately $156,000. Islay Capital Management LLC bought a new stake in Apellis Pharmaceuticals during the 2nd quarter worth approximately $167,000. Finally, E Fund Management Co. Ltd. bought a new stake in Apellis Pharmaceuticals during the 1st quarter worth approximately $127,000. Institutional investors own 74.28% of the company’s stock.

About Apellis Pharmaceuticals (NASDAQ:APLS)

Apellis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which develops novel therapeutic compounds. It develops complement immunotherapies for the treatment of complement-dependent autoimmune and inflammatory diseases through APL-2 product. The company was founded by Candace Rose Depp, Pascal Deschatelets, Cedric Francois, Alec Machiels on September 25, 2009 and is headquartered in Waltham, MA.

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