Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Raised to $50.00

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

Other research analysts have also issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Apellis Pharmaceuticals from $26.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Morgan Stanley upped their price objective on shares of Apellis Pharmaceuticals from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 2nd. Raymond James Financial lowered shares of Apellis Pharmaceuticals from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $75.00 to $52.00 in a research note on Friday, May 9th. Mizuho dropped their price objective on shares of Apellis Pharmaceuticals from $30.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 14th. Finally, Needham & Company LLC dropped their price objective on shares of Apellis Pharmaceuticals from $40.00 to $29.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Apellis Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ:APLS traded down $0.19 during trading on Friday, reaching $19.28. The company had a trading volume of 1,614,984 shares, compared to its average volume of 2,372,360. The firm's fifty day moving average is $18.23 and its 200 day moving average is $22.50. The firm has a market capitalization of $2.42 billion, a PE ratio of -10.77 and a beta of 0.67. Apellis Pharmaceuticals has a twelve month low of $16.10 and a twelve month high of $41.94. The company has a debt-to-equity ratio of 2.76, a quick ratio of 3.62 and a current ratio of 4.08.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released 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 business had revenue of $149.90 million for the quarter, compared to analyst estimates of $197.61 million. During the same period in the prior year, the company earned ($0.54) earnings per share. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts forecast that Apellis Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 5,000 shares of the firm'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 approximately $2,516,671.50. This trade represents a 3.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Cedric Francois sold 19,725 shares of the firm's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $20.21, for a total transaction of $398,642.25. Following the completion of the transaction, the chief executive officer directly owned 331,605 shares in the company, valued at $6,701,737.05. This trade represents a 5.61% decrease in their position. 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 in the last 90 days. Corporate insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its stake in Apellis Pharmaceuticals by 9.4% in the fourth quarter. Teacher Retirement System of Texas now owns 21,649 shares of the company's stock valued at $691,000 after buying an additional 1,864 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Apellis Pharmaceuticals by 2.6% in the fourth quarter. Ameriprise Financial Inc. now owns 882,801 shares of the company's stock valued at $28,170,000 after buying an additional 22,507 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Apellis Pharmaceuticals by 147.8% in the first quarter. Assenagon Asset Management S.A. now owns 74,325 shares of the company's stock valued at $1,625,000 after buying an additional 44,332 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Apellis Pharmaceuticals by 11.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 212,887 shares of the company's stock valued at $6,793,000 after buying an additional 21,822 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Apellis Pharmaceuticals by 1,795.4% in the first quarter. GAMMA Investing LLC now owns 10,235 shares of the company's stock valued at $224,000 after buying an additional 9,695 shares in the last quarter. 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).