Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Get Free Report) rose 8.6% on Wednesday . The stock traded as high as $25.27 and last traded at $25.13. Approximately 949,936 shares traded hands during trading, a decline of 58% from the average daily volume of 2,276,156 shares. The stock had previously closed at $23.15.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on APLS. The Goldman Sachs Group downgraded shares of Apellis Pharmaceuticals from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $26.00 to $18.00 in a research report on Friday, September 26th. Bank of America increased their price objective on shares of Apellis Pharmaceuticals from $23.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Citigroup increased their price objective on shares of Apellis Pharmaceuticals from $41.00 to $46.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Morgan Stanley increased 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 report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Apellis Pharmaceuticals from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Apellis Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $33.47.
View Our Latest Stock Analysis on Apellis Pharmaceuticals
Apellis Pharmaceuticals Price Performance
The company has a quick ratio of 3.16, a current ratio of 3.77 and a debt-to-equity ratio of 2.90. The company has a market capitalization of $3.16 billion, a P/E ratio of -13.76 and a beta of 0.69. The business has a 50 day simple moving average of $25.35 and a 200-day simple moving average of $21.12.
Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.44) by $0.11. The company had revenue of $171.39 million for the quarter, compared to analysts' expectations of $187.91 million. Apellis Pharmaceuticals had a negative return on equity of 116.09% and a negative net margin of 30.24%.The firm's quarterly revenue was down 10.6% compared to the same quarter last year. During the same period last year, the business posted ($0.30) earnings per share. Analysts predict that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.
Insider Buying and Selling
In related news, General Counsel David O. Watson sold 5,000 shares of Apellis Pharmaceuticals stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $24.34, for a total transaction of $121,700.00. Following the transaction, the general counsel directly owned 118,730 shares of the company's stock, valued at $2,889,888.20. The trade was a 4.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cedric Francois sold 175,037 shares of Apellis Pharmaceuticals stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $28.19, for a total value of $4,934,293.03. Following the transaction, the chief executive officer directly owned 357,909 shares in the company, valued at approximately $10,089,454.71. The trade was a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 286,554 shares of company stock valued at $7,745,606 over the last three months. Company insiders own 6.80% of the company's stock.
Institutional Investors Weigh In On Apellis Pharmaceuticals
Institutional investors have recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in shares of Apellis Pharmaceuticals by 16.2% during the 3rd quarter. Brighton Jones LLC now owns 19,214 shares of the company's stock valued at $435,000 after buying an additional 2,675 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of Apellis Pharmaceuticals by 14.8% during the 3rd quarter. Voya Investment Management LLC now owns 172,934 shares of the company's stock valued at $3,913,000 after buying an additional 22,341 shares during the last quarter. Wedmont Private Capital acquired a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter valued at about $258,000. Osaic Holdings Inc. lifted its holdings in shares of Apellis Pharmaceuticals by 141.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,682 shares of the company's stock valued at $47,000 after buying an additional 1,570 shares during the last quarter. Finally, Hudson Bay Capital Management LP lifted its holdings in shares of Apellis Pharmaceuticals by 52.9% during the 2nd quarter. Hudson Bay Capital Management LP now owns 475,000 shares of the company's stock valued at $8,222,000 after buying an additional 164,300 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors and hedge funds.
About Apellis Pharmaceuticals
(
Get Free Report)
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).
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