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

Apellis Pharmaceuticals (NASDAQ:APLS)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $85.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 129.67% from the stock’s current price.

Other equities analysts have also issued reports about the stock. UBS Group cut their target price on shares of Apellis Pharmaceuticals from $89.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Piper Sandler started coverage on Apellis Pharmaceuticals in a research note on Friday, May 31st. They set a “neutral” rating and a $46.00 target price for the company. HC Wainwright reduced their price target on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Robert W. Baird lifted their price objective on Apellis Pharmaceuticals from $86.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wells Fargo & Company reduced their target price on Apellis Pharmaceuticals from $57.00 to $48.00 and set an “equal weight” rating for the company in a report on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Apellis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.63.

Apellis Pharmaceuticals Trading Down 1.7 %

Shares of NASDAQ APLS traded down $0.65 during mid-day trading on Friday, reaching $37.01. The company had a trading volume of 1,885,232 shares, compared to its average volume of 1,541,113. Apellis Pharmaceuticals has a 52 week low of $23.86 and a 52 week high of $73.80. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of -10.70 and a beta of 0.88. The business’s 50-day moving average is $38.70 and its 200-day moving average is $49.60. The company has a current ratio of 5.08, a quick ratio of 3.02 and a debt-to-equity ratio of 1.73.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The business had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $190.89 million. The company’s revenue was up 110.2% compared to the same quarter last year. During the same period last year, the business earned ($1.02) EPS. Equities analysts expect that Apellis Pharmaceuticals will post -1.14 earnings per share for the current year.

Insider Activity at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $39.24, for a total transaction of $1,451,880.00. Following the completion of the transaction, the director now directly owns 136,998 shares in the company, valued at approximately $5,375,801.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Apellis Pharmaceuticals by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 904,409 shares of the company’s stock worth $54,138,000 after buying an additional 25,052 shares during the period. Norges Bank acquired a new stake in shares of Apellis Pharmaceuticals during the fourth quarter worth $56,640,000. Great Lakes Advisors LLC purchased a new position in Apellis Pharmaceuticals in the 4th quarter valued at $12,461,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Apellis Pharmaceuticals during the 1st quarter worth $3,218,000. Finally, Bellevue Group AG lifted its stake in shares of Apellis Pharmaceuticals by 3.5% in the 4th quarter. Bellevue Group AG now owns 821,800 shares of the company’s stock worth $49,193,000 after acquiring an additional 27,959 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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).