Brokerages Set Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Target Price at $49.94

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) has earned an average rating of “Moderate Buy” from the twenty brokerages that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $49.94.

Several brokerages recently issued reports on APLS. Royal Bank of Canada restated a “sector perform” rating and set a $25.00 target price on shares of Apellis Pharmaceuticals in a research report on Monday, November 4th. Bank of America decreased their target price on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Evercore ISI raised Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Oppenheimer decreased 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, November 6th. Finally, JPMorgan Chase & Co. cut their price objective on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, September 13th.

Apellis Pharmaceuticals Price Performance

NASDAQ APLS opened at $33.32 on Friday. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of -16.41 and a beta of 0.94. Apellis Pharmaceuticals has a 1-year low of $24.34 and a 1-year high of $73.80. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The business’s fifty day moving average price is $30.54 and its 200-day moving average price is $34.39.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The firm had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm’s revenue was up 78.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.17) EPS. On average, equities analysts predict that Apellis Pharmaceuticals will post -1.72 earnings per share for the current year.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC bought a new stake in Apellis Pharmaceuticals in the third quarter worth $27,000. True Wealth Design LLC bought a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter worth about $27,000. Capital Performance Advisors LLP bought a new position in shares of Apellis Pharmaceuticals in the 3rd quarter valued at about $56,000. KBC Group NV increased its stake in Apellis Pharmaceuticals by 34.8% during the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after acquiring an additional 679 shares during the last quarter. Finally, nVerses Capital LLC raised its position in Apellis Pharmaceuticals by 300.0% during the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after purchasing an additional 2,100 shares during the period. 96.29% of the stock is owned by 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).