HC Wainwright Lowers Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $57.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target reduced by research analysts at HC Wainwright from $83.00 to $57.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 103.03% from the company’s current price.

A number of other equities analysts have also commented on the company. JPMorgan Chase & Co. cut their price target on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Mizuho decreased their target price on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Scotiabank began coverage on shares of Apellis Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $35.00 price target for the company. The Goldman Sachs Group upped their price target on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Robert W. Baird dropped their price target on Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.18.

Apellis Pharmaceuticals Price Performance

Apellis Pharmaceuticals stock opened at $28.08 on Wednesday. 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 business’s 50 day simple moving average is $31.58 and its 200 day simple moving average is $37.26. Apellis Pharmaceuticals has a 12 month low of $24.34 and a 12 month high of $73.80. The company has a market cap of $3.42 billion, a price-to-earnings ratio of -10.25 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same quarter in the previous year, the company posted ($1.17) EPS. The firm’s revenue was up 78.3% compared to the same quarter last year. Sell-side analysts forecast that Apellis Pharmaceuticals will post -1.4 EPS for the current year.

Insiders Place Their Bets

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the sale, the director now owns 100,000 shares in the company, valued at approximately $3,623,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Apellis Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Wolverine Asset Management LLC purchased a new position in Apellis Pharmaceuticals during the third quarter valued at $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter valued at about $56,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Apellis Pharmaceuticals in the first quarter worth approximately $89,000. nVerses Capital LLC raised its stake in Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after buying an additional 2,100 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Apellis Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock valued at $130,000 after buying an additional 781 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).