Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Raised to $37.00

Key Points

• JPMorgan Chase & Co. raised the price target for Apellis Pharmaceuticals from $35.00 to $37.00, indicating a potential upside of 52.51% from its previous close and maintaining an "overweight" rating on the stock.
• Multiple analysts are bullish on Apellis Pharmaceuticals, with Citigroup increasing their price target to $46.00 and Bank of America adjusting theirs to $24.00, while a consensus rating remains a "Moderate Buy" with a target of $36.83.
• Apellis Pharmaceuticals reported a loss of ($0.33) earnings per share in their latest quarterly results, outperforming estimates but showing a 10.6% year-over-year decrease in revenue.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $35.00 to $37.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 53.43% from the stock's current price.

Other analysts also recently issued research reports about the stock. Mizuho cut their price target on shares of Apellis Pharmaceuticals from $30.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, May 14th. Bank of America upped their price target on shares of Apellis Pharmaceuticals from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Cantor Fitzgerald upped their price target on shares of Apellis Pharmaceuticals from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Robert W. Baird increased their price objective on shares of Apellis Pharmaceuticals from $47.00 to $50.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Finally, Needham & Company LLC dropped their price objective on shares of Apellis Pharmaceuticals from $40.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Ten research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.83.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ:APLS traded down $0.21 on Monday, reaching $24.12. 305,737 shares of the company's stock were exchanged, compared to its average volume of 2,289,425. The company has a fifty day moving average of $19.32 and a 200-day moving average of $21.68. Apellis Pharmaceuticals has a twelve month low of $16.10 and a twelve month high of $41.94. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -13.28 and a beta of 0.78. The company has a current ratio of 3.77, a quick ratio of 3.16 and a debt-to-equity ratio of 2.90.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported ($0.33) earnings per share for the quarter, topping analysts' consensus estimates of ($0.44) by $0.11. Apellis Pharmaceuticals had a negative net margin of 30.24% and a negative return on equity of 116.09%. The company had revenue of $171.39 million during the quarter, compared to the consensus estimate of $187.91 million. During the same quarter in the prior year, the firm posted ($0.30) EPS. The firm's quarterly revenue was down 10.6% on a year-over-year basis. On average, research analysts predict that Apellis Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

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

Institutional Investors Weigh In On Apellis Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Assetmark Inc. grew its holdings in shares of Apellis Pharmaceuticals by 3,938.7% during the first quarter. Assetmark Inc. now owns 1,252 shares of the company's stock valued at $27,000 after buying an additional 1,221 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Apellis Pharmaceuticals by 80.0% during the second quarter. Parallel Advisors LLC now owns 1,924 shares of the company's stock valued at $33,000 after buying an additional 855 shares during the last quarter. GF Fund Management CO. LTD. grew 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 buying an additional 573 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Apellis Pharmaceuticals by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,855 shares of the company's stock valued at $84,000 after buying an additional 655 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Apellis Pharmaceuticals by 1,819.2% during the fourth quarter. Covestor Ltd now owns 3,992 shares of the company's stock valued at $127,000 after buying an additional 3,784 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.

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).