JPMorgan Chase & Co. Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $64.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective reduced by analysts at JPMorgan Chase & Co. from $72.00 to $64.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 76.99% from the company’s previous close.

A number of other brokerages have also recently commented on APLS. Piper Sandler assumed coverage on shares of Apellis Pharmaceuticals in a research report on Friday, May 31st. They issued a “neutral” rating and a $46.00 target price for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a report on Wednesday, July 31st. UBS Group lowered their target price on Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company cut their price target 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. Finally, Wedbush boosted their price objective on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apellis Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $71.69.

Apellis Pharmaceuticals Trading Down 2.3 %

APLS stock opened at $36.16 on Tuesday. Apellis Pharmaceuticals has a 12-month low of $29.79 and a 12-month high of $73.80. The business’s 50-day moving average is $38.62 and its 200 day moving average is $49.27. The company has a current ratio of 5.08, a quick ratio of 3.02 and a debt-to-equity ratio of 1.73. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of -10.45 and a beta of 0.88.

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

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $39.24, for a total value of $1,451,880.00. Following 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 SEC, which is accessible through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Apellis Pharmaceuticals by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 9,555,678 shares of the company’s stock worth $572,003,000 after purchasing an additional 85,701 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Apellis Pharmaceuticals by 38.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,460,339 shares of the company’s stock worth $147,277,000 after purchasing an additional 677,098 shares in the last quarter. Fiera Capital Corp lifted its position in Apellis Pharmaceuticals by 47.7% in the second quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock valued at $53,750,000 after acquiring an additional 452,753 shares during the last quarter. Norges Bank acquired a new position in Apellis Pharmaceuticals during the fourth quarter worth approximately $56,640,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Apellis Pharmaceuticals by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 904,409 shares of the company’s stock valued at $54,138,000 after acquiring an additional 25,052 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).