Apellis Pharmaceuticals (NASDAQ:APLS) Earns Buy Rating from Needham & Company LLC

Apellis Pharmaceuticals (NASDAQ:APLS)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports. They currently have a $85.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 77.45% from the stock’s previous close.

Several other brokerages also recently issued reports on APLS. Jefferies Financial Group upgraded Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $80.00 in a report on Monday, February 5th. The Goldman Sachs Group increased their target price on Apellis Pharmaceuticals from $65.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Raymond James lifted their price target on Apellis Pharmaceuticals from $67.00 to $106.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 11th. UBS Group boosted their price target on Apellis Pharmaceuticals from $87.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. boosted their price target on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.93.

Apellis Pharmaceuticals Trading Down 4.1 %

Shares of APLS stock traded down $2.03 on Thursday, reaching $47.90. The company had a trading volume of 434,296 shares, compared to its average volume of 1,470,313. The company has a 50-day moving average of $58.61 and a 200-day moving average of $57.37. Apellis Pharmaceuticals has a 12 month low of $19.83 and a 12 month high of $94.75. The company has a current ratio of 3.10, a quick ratio of 2.50 and a debt-to-equity ratio of 0.48. The stock has a market cap of $5.78 billion, a PE ratio of -10.74 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.73). Apellis Pharmaceuticals had a negative return on equity of 178.60% and a negative net margin of 133.34%. The business had revenue of $146.38 million during the quarter, compared to the consensus estimate of $143.34 million. During the same quarter last year, the firm posted ($1.50) EPS. The company’s quarterly revenue was up 545.9% on a year-over-year basis. On average, equities analysts forecast that Apellis Pharmaceuticals will post -1.33 earnings per share for the current year.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, insider Nur Nicholson sold 835 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $64.14, for a total value of $53,556.90. Following the transaction, the insider now owns 67,507 shares of the company’s stock, valued at $4,329,898.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Nur Nicholson sold 835 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $64.14, for a total transaction of $53,556.90. Following the completion of the sale, the insider now owns 67,507 shares of the company’s stock, valued at $4,329,898.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cedric Francois sold 2,843 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $64.14, for a total value of $182,350.02. Following the completion of the transaction, the chief executive officer now directly owns 317,624 shares of the company’s stock, valued at approximately $20,372,403.36. The disclosure for this sale can be found here. Insiders sold 381,011 shares of company stock valued at $23,463,657 in the last ninety days. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APLS. First Horizon Advisors Inc. lifted its holdings in shares of Apellis Pharmaceuticals by 69.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 649 shares of the company’s stock worth $25,000 after buying an additional 265 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Apellis Pharmaceuticals in the first quarter valued at $29,000. Covestor Ltd increased its position in Apellis Pharmaceuticals by 564.2% in the 3rd quarter. Covestor Ltd now owns 797 shares of the company’s stock valued at $30,000 after acquiring an additional 677 shares during the period. Stephens Consulting LLC purchased a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter worth approximately $38,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Apellis Pharmaceuticals by 29.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,028 shares of the company’s stock valued at $115,000 after acquiring an additional 687 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

About Apellis Pharmaceuticals

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).