Apellis Pharmaceuticals (NASDAQ:APLS) Given New $50.00 Price Target at Robert W. Baird

Apellis Pharmaceuticals (NASDAQ:APLS - Free Report) had its price objective upped by Robert W. Baird from $47.00 to $50.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts also recently commented on the stock. Bank of America boosted their price objective on shares of Apellis Pharmaceuticals from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday. Cantor Fitzgerald started coverage on shares of Apellis Pharmaceuticals in a research report on Tuesday, April 29th. They issued an "overweight" rating and a $44.00 price objective for the company. Wells Fargo & Company upped their price target on shares of Apellis Pharmaceuticals from $26.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Mizuho dropped their price objective on shares of Apellis Pharmaceuticals from $30.00 to $20.00 and set a "neutral" rating for the company in a research report on Wednesday, May 14th. Finally, Royal Bank Of Canada decreased their target price on shares of Apellis Pharmaceuticals from $21.00 to $18.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Nine investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Apellis Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.00.

Apellis Pharmaceuticals Trading Down 2.8%

APLS stock traded down $0.57 during midday trading on Friday, hitting $19.47. 1,842,831 shares of the company's stock were exchanged, compared to its average volume of 2,369,900. The company has a current ratio of 4.08, a quick ratio of 3.62 and a debt-to-equity ratio of 2.76. The stock has a market capitalization of $2.45 billion, a PE ratio of -10.88 and a beta of 0.67. The business has a 50-day simple moving average of $18.23 and a two-hundred day simple moving average of $22.64. Apellis Pharmaceuticals has a 1-year low of $16.10 and a 1-year high of $41.94.

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

Insiders Place Their Bets

In other news, CEO Cedric Francois sold 19,725 shares of the firm's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $20.21, for a total transaction of $398,642.25. Following the completion of the sale, the chief executive officer directly owned 331,605 shares of the company's stock, valued at $6,701,737.05. This trade represents a 5.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel David O. Watson sold 5,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $19.55, for a total value of $97,750.00. Following the completion of the sale, the general counsel owned 128,730 shares in the company, valued at $2,516,671.50. This represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 169,090 shares of company stock valued at $3,403,832 over the last three months. 6.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in APLS. EverSource Wealth Advisors LLC boosted its stake in Apellis Pharmaceuticals by 2,707.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company's stock worth $25,000 after buying an additional 758 shares in the last quarter. Assetmark Inc. lifted 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 last quarter. Parallel Advisors LLC lifted 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 last quarter. Signaturefd LLC raised its holdings in shares of Apellis Pharmaceuticals by 357.2% during the fourth quarter. Signaturefd LLC now owns 1,175 shares of the company's stock valued at $37,000 after acquiring an additional 918 shares in the last quarter. Finally, GF Fund Management CO. LTD. raised its holdings 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 valued at $70,000 after acquiring an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 96.29% of the company's stock.

Apellis Pharmaceuticals Company Profile

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).