Robert W. Baird Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $92.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target reduced by Robert W. Baird from $96.00 to $92.00 in a research report released on Monday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other equities analysts have also issued reports on APLS. Wedbush upped their target price on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a neutral rating in a research report on Friday, August 9th. The Goldman Sachs Group increased their price objective on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a buy rating in a research note on Friday, August 9th. HC Wainwright dropped their target price on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a buy rating for the company in a research report on Friday, August 2nd. Jefferies Financial Group restated a buy rating and issued a $80.00 target price on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Finally, Piper Sandler started coverage on Apellis Pharmaceuticals in a research note on Friday, May 31st. They issued a neutral rating and a $46.00 price target for the company. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $70.20.

Apellis Pharmaceuticals Price Performance

APLS opened at $30.59 on Monday. Apellis Pharmaceuticals has a twelve month low of $30.23 and a twelve month high of $73.80. The company has a current ratio of 5.08, a quick ratio of 4.18 and a debt-to-equity ratio of 1.73. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -8.84 and a beta of 0.88. The company has a fifty day simple moving average of $37.34 and a 200 day simple moving average of $43.01.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced 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 company had revenue of $199.70 million during the quarter, compared to the consensus estimate of $190.89 million. During the same period last year, the firm earned ($1.02) earnings per share. The company’s revenue was up 110.2% on a year-over-year basis. Equities research analysts expect that Apellis Pharmaceuticals will post -1.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at approximately $3,623,000. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in shares of Apellis Pharmaceuticals during the first quarter worth approximately $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Apellis Pharmaceuticals during the 1st quarter worth $89,000. nVerses Capital LLC grew its stake in shares of Apellis Pharmaceuticals by 300.0% in the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after purchasing an additional 2,100 shares in the last quarter. CWM LLC increased its holdings in shares of Apellis Pharmaceuticals by 299.9% during the second quarter. CWM LLC now owns 4,151 shares of the company’s stock valued at $159,000 after purchasing an additional 3,113 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in shares of Apellis Pharmaceuticals during the fourth quarter valued at about $205,000. Institutional investors 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).