Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $55.00 by Analysts at Robert W. Baird

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target decreased by Robert W. Baird from $92.00 to $55.00 in a report issued on Thursday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. Needham & Company LLC cut their price target on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday. Piper Sandler cut their target price on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday. The Goldman Sachs Group decreased their price target on shares of Apellis Pharmaceuticals from $71.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday. Wedbush raised their price objective on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, Oppenheimer reduced their price objective on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.06.

Apellis Pharmaceuticals Trading Up 4.3 %

Shares of NASDAQ:APLS traded up $1.24 during midday trading on Thursday, reaching $29.98. The company’s stock had a trading volume of 4,755,569 shares, compared to its average volume of 1,779,661. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -10.49 and a beta of 0.87. The business has a 50 day moving average price of $31.19 and a 200 day moving average price of $37.14. Apellis Pharmaceuticals has a 1 year low of $24.34 and a 1 year high of $73.80. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The company had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same period in the prior year, the company earned ($1.17) EPS. The company’s revenue was up 78.3% compared to the same quarter last year. Research analysts forecast that Apellis Pharmaceuticals will post -1.4 EPS for the current year.

Insider Activity

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the sale, the director now directly owns 100,000 shares of the company’s stock, valued at $3,623,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.80% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

Several large investors have recently added to or reduced their stakes in APLS. HighVista Strategies LLC raised its position in Apellis Pharmaceuticals by 4.1% during the second quarter. HighVista Strategies LLC now owns 7,566 shares of the company’s stock valued at $290,000 after buying an additional 300 shares during the period. Amalgamated Bank increased its holdings in shares of Apellis Pharmaceuticals by 5.4% in the 2nd quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock valued at $268,000 after purchasing an additional 359 shares during the period. Simplicity Wealth LLC lifted its position in shares of Apellis Pharmaceuticals by 0.6% in the second quarter. Simplicity Wealth LLC now owns 78,746 shares of the company’s stock worth $3,021,000 after purchasing an additional 499 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Apellis Pharmaceuticals by 8.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 8,694 shares of the company’s stock worth $511,000 after purchasing an additional 664 shares during the period. Finally, KBC Group NV grew its position in Apellis Pharmaceuticals by 34.8% during the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after purchasing an additional 679 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

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).