Brokerages Set Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Target Price at $39.79

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty-one analysts that are currently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $39.79.

Several equities research analysts recently commented on APLS shares. Cantor Fitzgerald initiated coverage on Apellis Pharmaceuticals in a research note on Tuesday, April 29th. They set an "overweight" rating and a $44.00 target price for the company. Wells Fargo & Company upped their price target on Apellis Pharmaceuticals from $26.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Robert W. Baird cut their price objective on Apellis Pharmaceuticals from $55.00 to $47.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC dropped their price target on Apellis Pharmaceuticals from $40.00 to $29.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Scotiabank dropped their price target on Apellis Pharmaceuticals from $28.00 to $20.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th.

Insider Activity at Apellis Pharmaceuticals

In other news, General Counsel David O. Watson sold 5,000 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $18.77, for a total transaction of $93,850.00. Following the completion of the sale, the general counsel owned 133,730 shares in the company, valued at approximately $2,510,112.10. This represents a 3.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.50% of the company's stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in shares of Apellis Pharmaceuticals by 2,707.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company's stock valued at $25,000 after purchasing an additional 758 shares during the last quarter. Assetmark Inc. raised its position in Apellis Pharmaceuticals by 3,938.7% in the first quarter. Assetmark Inc. now owns 1,252 shares of the company's stock valued at $27,000 after purchasing an additional 1,221 shares during the period. Parallel Advisors LLC raised its position in Apellis Pharmaceuticals by 80.0% in the second quarter. Parallel Advisors LLC now owns 1,924 shares of the company's stock valued at $33,000 after purchasing an additional 855 shares during the period. Signaturefd LLC raised its position in Apellis Pharmaceuticals by 357.2% in the fourth quarter. Signaturefd LLC now owns 1,175 shares of the company's stock valued at $37,000 after purchasing an additional 918 shares during the period. Finally, GF Fund Management CO. LTD. increased its position in shares of Apellis Pharmaceuticals by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 3,185 shares of the company's stock worth $70,000 after acquiring an additional 573 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Apellis Pharmaceuticals Stock Performance

Apellis Pharmaceuticals stock traded down $0.09 during trading hours on Wednesday, hitting $19.44. The stock had a trading volume of 1,558,003 shares, compared to its average volume of 2,368,225. The company has a debt-to-equity ratio of 2.76, a current ratio of 4.08 and a quick ratio of 3.62. Apellis Pharmaceuticals has a one year low of $16.10 and a one year high of $42.47. The business's 50 day simple moving average is $18.10 and its 200-day simple moving average is $23.01.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.38). Apellis Pharmaceuticals had a negative net margin of 28.83% and a negative return on equity of 99.19%. The firm had revenue of $149.90 million during the quarter, compared to the consensus estimate of $197.61 million. During the same quarter in the prior year, the business posted ($0.54) earnings per share. Apellis Pharmaceuticals's revenue for the quarter was down 3.2% compared to the same quarter last year. On average, research analysts predict that Apellis Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

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).