Wolfe Research Begins Coverage on Apellis Pharmaceuticals (NASDAQ:APLS)

Equities researchers at Wolfe Research began coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set a “peer perform” rating on the stock.

A number of other research firms have also issued reports on APLS. TD Cowen reduced their target price on shares of Apellis Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, October 31st. JPMorgan Chase & Co. reduced their price objective on Apellis Pharmaceuticals from $40.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday. Royal Bank Of Canada raised their target price on Apellis Pharmaceuticals from $17.00 to $19.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. Citigroup reduced their price target on Apellis Pharmaceuticals from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Apellis Pharmaceuticals in a research note on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $33.06.

Apellis Pharmaceuticals Trading Down 2.3%

NASDAQ:APLS opened at $19.26 on Thursday. The firm has a market capitalization of $2.44 billion, a P/E ratio of 62.13 and a beta of 0.70. The business has a 50 day simple moving average of $24.73 and a 200 day simple moving average of $21.75. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.54 and a quick ratio of 3.16. Apellis Pharmaceuticals has a 12-month low of $16.10 and a 12-month high of $35.72.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Thursday, October 30th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.64. Apellis Pharmaceuticals had a return on equity of 18.94% and a net margin of 4.43%.The company had revenue of $458.58 million for the quarter, compared to analysts’ expectations of $364.58 million. During the same period last year, the business posted ($0.46) earnings per share. The firm’s quarterly revenue was up 133.0% compared to the same quarter last year. Equities research analysts predict that Apellis Pharmaceuticals will post -1.7 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel David O. Watson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $25.22, for a total transaction of $126,100.00. Following the transaction, the general counsel directly owned 113,730 shares of the company’s stock, valued at approximately $2,868,270.60. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Timothy Eugene Sullivan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $28.03, for a total value of $280,300.00. Following the completion of the transaction, the chief financial officer owned 110,936 shares in the company, valued at $3,109,536.08. This trade represents a 8.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 312,921 shares of company stock worth $8,490,866. Company insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Woodline Partners LP boosted its stake in shares of Apellis Pharmaceuticals by 15.5% during the 1st quarter. Woodline Partners LP now owns 218,850 shares of the company’s stock worth $4,786,000 after acquiring an additional 29,373 shares in the last quarter. Corton Capital Inc. acquired a new stake in Apellis Pharmaceuticals in the 2nd quarter worth approximately $364,000. Wealth Enhancement Advisory Services LLC boosted its position in Apellis Pharmaceuticals by 43.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 100,666 shares of the company’s stock worth $1,838,000 after purchasing an additional 30,507 shares during the period. Cerity Partners LLC grew its holdings in Apellis Pharmaceuticals by 16.7% during the first quarter. Cerity Partners LLC now owns 54,444 shares of the company’s stock valued at $1,191,000 after purchasing an additional 7,777 shares during the last quarter. Finally, Bayforest Capital Ltd raised its position in shares of Apellis Pharmaceuticals by 431.9% in the first quarter. Bayforest Capital Ltd now owns 52,338 shares of the company’s stock valued at $1,145,000 after purchasing an additional 42,499 shares during the period. Institutional investors and hedge funds 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).