Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Raised to $31.00 at Scotiabank

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target boosted by equities research analysts at Scotiabank from $30.00 to $31.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 34.67% from the stock’s previous close.

Several other research firms have also recently weighed in on APLS. Wedbush dropped their price target on Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Royal Bank of Canada reduced their price objective on Apellis Pharmaceuticals from $26.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised their target price on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. HC Wainwright restated a “buy” rating and issued a $57.00 price target on shares of Apellis Pharmaceuticals in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group decreased their target price on Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.59.

Apellis Pharmaceuticals Trading Up 1.5 %

Shares of APLS stock traded up $0.34 on Wednesday, reaching $23.02. The company had a trading volume of 800,681 shares, compared to its average volume of 2,062,290. The company has a 50-day moving average of $26.73 and a 200-day moving average of $29.25. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. The stock has a market cap of $2.89 billion, a PE ratio of -11.34 and a beta of 0.92. Apellis Pharmaceuticals has a 12 month low of $21.70 and a 12 month high of $58.51.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings results on Friday, February 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.08. The firm had revenue of $212.50 million for the quarter, compared to the consensus estimate of $197.92 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The company’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.73) EPS. On average, equities analysts forecast that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Transactions at Apellis Pharmaceuticals

In other news, CEO Cedric Francois sold 13,551 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total value of $412,356.93. Following the completion of the transaction, the chief executive officer now owns 418,519 shares of the company’s stock, valued at $12,735,533.17. This represents a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Caroline Baumal sold 2,816 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the sale, the insider now owns 55,560 shares in the company, valued at approximately $1,878,483.60. The trade was a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,054 shares of company stock worth $1,952,719 in the last three months. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of APLS. JPMorgan Chase & Co. boosted its holdings in shares of Apellis Pharmaceuticals by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock valued at $112,036,000 after purchasing an additional 735,160 shares during the period. BNP Paribas Financial Markets grew its position in shares of Apellis Pharmaceuticals by 52.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 159,700 shares of the company’s stock worth $4,606,000 after buying an additional 55,282 shares in the last quarter. Old West Investment Management LLC purchased a new position in shares of Apellis Pharmaceuticals during the third quarter valued at $2,953,000. KBC Group NV raised its holdings in shares of Apellis Pharmaceuticals by 3,862.3% in the fourth quarter. KBC Group NV now owns 104,287 shares of the company’s stock valued at $3,328,000 after acquiring an additional 101,655 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Apellis Pharmaceuticals by 9.4% in the fourth quarter. Teacher Retirement System of Texas now owns 21,649 shares of the company’s stock valued at $691,000 after acquiring an additional 1,864 shares in the last quarter. 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).