Apellis Pharmaceuticals (NASDAQ:APLS) Reaches New 52-Week High - Should You Buy?

Key Points

• Shares hit a new 52-week high of $40.79 on Monday with about 1.66 million shares traded, giving Apellis a market capitalization of roughly $5.22 billion.
• Analysts are mixed — the consensus rating is an average "Hold" with an average target of $34.11 (4 Buys, 17 Holds, 2 Sells), though some firms like JPMorgan and Barclays have lifted targets toward $41.
• The company posted an EPS beat ($0.47 vs. -$0.39 est.) on $199.9M in revenue (down 5.9% YoY), but the stock trades at a high PE (~314) and insiders have recently sold shares.

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $40.79 and last traded at $40.7850, with a volume of 1665539 shares traded. The stock had previously closed at $40.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on APLS shares. William Blair downgraded shares of Apellis Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. Jefferies Financial Group downgraded shares of Apellis Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 31st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $41.00 target price (up from $37.00) on shares of Apellis Pharmaceuticals in a research note on Wednesday, April 1st. Barclays lifted their target price on shares of Apellis Pharmaceuticals from $24.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 1st. Finally, Wall Street Zen downgraded shares of Apellis Pharmaceuticals from a "buy" rating to a "sell" rating in a research note on Saturday, February 28th. Four equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Apellis Pharmaceuticals currently has an average rating of "Hold" and an average target price of $34.11.

Apellis Pharmaceuticals Stock Performance

The firm's 50 day moving average is $24.06 and its two-hundred day moving average is $23.55. The stock has a market capitalization of $5.22 billion, a PE ratio of 314.25 and a beta of -0.19. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.70 and a current ratio of 3.14.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.86. Apellis Pharmaceuticals had a net margin of 2.23% and a return on equity of 8.20%. The firm had revenue of $199.91 million for the quarter, compared to the consensus estimate of $199.28 million. During the same period in the prior year, the firm earned ($0.29) EPS. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. As a group, research analysts predict that Apellis Pharmaceuticals, Inc. will post -1.7 earnings per share for the current year.

Insider Activity

In related news, insider Caroline Baumal sold 2,797 shares of the company's stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.77, for a total transaction of $60,890.69. Following the sale, the insider directly owned 86,527 shares of the company's stock, valued at $1,883,692.79. This represents a 3.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Cedric Francois sold 27,192 shares of the company's stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total transaction of $591,969.84. Following the sale, the chief executive officer directly owned 286,045 shares in the company, valued at approximately $6,227,199.65. The trade was a 8.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 115,537 shares of company stock worth $2,486,082 over the last 90 days. Company insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in APLS. SG Americas Securities LLC raised its position in Apellis Pharmaceuticals by 35.9% in the 4th quarter. SG Americas Securities LLC now owns 567,046 shares of the company's stock valued at $14,244,000 after purchasing an additional 149,654 shares during the last quarter. Simplify Asset Management Inc. purchased a new stake in Apellis Pharmaceuticals in the 3rd quarter valued at $2,419,000. EFG Asset Management North America Corp. raised its position in Apellis Pharmaceuticals by 48.0% in the 3rd quarter. EFG Asset Management North America Corp. now owns 155,399 shares of the company's stock valued at $3,517,000 after purchasing an additional 50,375 shares during the last quarter. Highland Capital Management LLC purchased a new stake in Apellis Pharmaceuticals in the 3rd quarter valued at $1,135,000. Finally, HighVista Strategies LLC raised its position in Apellis Pharmaceuticals by 68.2% in the 3rd quarter. HighVista Strategies LLC now owns 145,729 shares of the company's stock valued at $3,298,000 after purchasing an additional 59,066 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company's research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company's lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.

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