Apellis Pharmaceuticals (NASDAQ:APLS) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research note published on Thursday morning, Benzinga reports. The firm currently has a $85.00 target price on the stock.

Other research analysts have also issued research reports about the stock. Oppenheimer increased their price target on shares of Apellis Pharmaceuticals from $75.00 to $79.00 and gave the stock an outperform rating in a research note on Tuesday, January 30th. UBS Group increased their price target on shares of Apellis Pharmaceuticals from $87.00 to $89.00 and gave the stock a buy rating in a research note on Monday, March 4th. Robert W. Baird restated an outperform rating and set a $81.00 price target on shares of Apellis Pharmaceuticals in a research note on Tuesday, February 6th. Wedbush decreased their price objective on shares of Apellis Pharmaceuticals from $67.00 to $57.00 and set a neutral rating for the company in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group upped their price objective on shares of Apellis Pharmaceuticals from $65.00 to $90.00 and gave the stock a buy rating in a report on Tuesday, January 9th. Three 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 company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $77.93.

Apellis Pharmaceuticals Stock Up 4.0 %

Apellis Pharmaceuticals stock opened at $49.86 on Thursday. The firm has a market cap of $6.01 billion, a PE ratio of -11.13 and a beta of 0.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.50 and a current ratio of 3.10. The firm’s 50 day moving average price is $57.84 and its two-hundred day moving average price is $57.53. Apellis Pharmaceuticals has a twelve month low of $19.83 and a twelve month high of $94.75.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.73) EPS for the quarter, hitting the consensus estimate of ($0.73). Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The company had revenue of $146.38 million for the quarter, compared to analyst estimates of $143.34 million. During the same quarter in the prior year, the business posted ($1.50) EPS. Apellis Pharmaceuticals’s quarterly revenue was up 545.9% on a year-over-year basis. On average, research analysts predict that Apellis Pharmaceuticals will post -1.34 EPS for the current fiscal year.

Insider Transactions at Apellis Pharmaceuticals

In related news, insider Adam J. Townsend sold 1,148 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $67.77, for a total transaction of $77,799.96. Following the completion of the sale, the insider now owns 92,453 shares in the company, valued at approximately $6,265,539.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Pascal Deschatelets sold 69,107 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the completion of the sale, the insider now owns 1,115,983 shares in the company, valued at approximately $60,452,799.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam J. Townsend sold 1,148 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $67.77, for a total transaction of $77,799.96. Following the completion of the transaction, the insider now directly owns 92,453 shares in the company, valued at approximately $6,265,539.81. The disclosure for this sale can be found here. In the last three months, insiders sold 376,427 shares of company stock valued at $23,169,639. Company insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Apellis Pharmaceuticals by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 9,555,678 shares of the company’s stock valued at $572,003,000 after buying an additional 85,701 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Apellis Pharmaceuticals by 79.8% in the third quarter. Jennison Associates LLC now owns 3,542,209 shares of the company’s stock valued at $134,746,000 after purchasing an additional 1,571,606 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Apellis Pharmaceuticals by 38.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,460,339 shares of the company’s stock valued at $147,277,000 after purchasing an additional 677,098 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Apellis Pharmaceuticals by 109.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,145,004 shares of the company’s stock valued at $128,400,000 after purchasing an additional 1,121,497 shares during the last quarter. Finally, Polar Capital Holdings Plc raised its holdings in shares of Apellis Pharmaceuticals by 126.6% in the third quarter. Polar Capital Holdings Plc now owns 1,053,875 shares of the company’s stock valued at $40,089,000 after purchasing an additional 588,875 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

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).