Robert W. Baird Has Lowered Expectations for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS - Free Report) had its target price decreased by Robert W. Baird from $55.00 to $47.00 in a report published on Thursday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

APLS has been the topic of several other reports. Cantor Fitzgerald began coverage on Apellis Pharmaceuticals in a report on Tuesday, April 29th. They set an "overweight" rating and a $44.00 price target for the company. Needham & Company LLC dropped their price target on Apellis Pharmaceuticals from $40.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday. Royal Bank of Canada dropped their price objective on shares of Apellis Pharmaceuticals from $24.00 to $21.00 and set a "sector perform" rating for the company in a research note on Monday, April 21st. Scotiabank boosted their target price on Apellis Pharmaceuticals from $30.00 to $31.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 2nd. Finally, HC Wainwright reiterated a "buy" rating and set a $57.00 price target on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. Nine investment 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $41.37.

Apellis Pharmaceuticals Stock Down 2.9 %

APLS stock traded down $0.51 during midday trading on Thursday, hitting $17.30. The company's stock had a trading volume of 2,957,758 shares, compared to its average volume of 2,214,077. Apellis Pharmaceuticals has a 12 month low of $16.65 and a 12 month high of $43.99. The firm's 50-day moving average is $21.15 and its 200-day moving average is $27.05. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. The company has a market cap of $2.17 billion, a PE ratio of -8.52 and a beta of 0.73.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.38). The company had revenue of $149.90 million for the quarter, compared to analysts' expectations of $197.61 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.54) earnings per share. On average, equities research analysts forecast that Apellis Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, General Counsel David O. Watson sold 5,569 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $25.10, for a total transaction of $139,781.90. Following the completion of the sale, the general counsel now owns 138,730 shares in the company, valued at approximately $3,482,123. This represents a 3.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 6,115 shares of company stock valued at $154,684. 6.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in APLS. EverSource Wealth Advisors LLC lifted its holdings in shares of Apellis Pharmaceuticals by 2,707.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company's stock worth $25,000 after purchasing an additional 758 shares during the period. Assetmark Inc. increased its holdings in Apellis Pharmaceuticals by 3,938.7% in the 1st quarter. Assetmark Inc. now owns 1,252 shares of the company's stock worth $27,000 after acquiring an additional 1,221 shares in the last quarter. Signaturefd LLC lifted its stake in Apellis Pharmaceuticals by 357.2% in the 4th quarter. Signaturefd LLC now owns 1,175 shares of the company's stock valued at $37,000 after buying an additional 918 shares in the last quarter. GF Fund Management CO. LTD. lifted its position in shares of Apellis Pharmaceuticals by 21.9% in the first quarter. GF Fund Management CO. LTD. now owns 3,185 shares of the company's stock valued at $70,000 after acquiring an additional 573 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Apellis Pharmaceuticals by 70.0% during the 4th quarter. US Bancorp DE now owns 3,223 shares of the company's stock worth $103,000 after purchasing an additional 1,327 shares during the last quarter. 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).