Apellis Pharmaceuticals (NASDAQ:APLS) Shares Down 3.4% - What's Next?

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Get Free Report) shares fell 3.4% on Monday . The company traded as low as $18.01 and last traded at $18.18. 71,644 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 2,333,610 shares. The stock had previously closed at $18.83.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APLS. HC Wainwright restated a "buy" rating and issued a $57.00 price objective on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. Scotiabank lowered their price objective on shares of Apellis Pharmaceuticals from $28.00 to $20.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Wells Fargo & Company boosted their price objective on shares of Apellis Pharmaceuticals from $26.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Bank of America lowered shares of Apellis Pharmaceuticals from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $41.00 to $23.00 in a report on Friday, May 9th. Finally, Cantor Fitzgerald began coverage on shares of Apellis Pharmaceuticals in a report on Tuesday, April 29th. They issued an "overweight" rating and a $44.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.05.

Apellis Pharmaceuticals Trading Down 2.8%

The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. The stock's 50-day simple moving average is $18.31 and its 200-day simple moving average is $25.03. The firm has a market capitalization of $2.30 billion, a PE ratio of -9.01 and a beta of 0.68.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $149.90 million for the quarter, compared to analysts' expectations of $197.61 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.54) earnings per share. As a group, sell-side analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position in Apellis Pharmaceuticals by 1,146.2% during the 1st quarter. Acadian Asset Management LLC now owns 23,976 shares of the company's stock valued at $522,000 after purchasing an additional 22,052 shares during the period. Focus Partners Wealth boosted its holdings in shares of Apellis Pharmaceuticals by 118.4% during the 1st quarter. Focus Partners Wealth now owns 21,883 shares of the company's stock valued at $479,000 after buying an additional 11,862 shares in the last quarter. Bayforest Capital Ltd boosted its holdings in shares of Apellis Pharmaceuticals by 431.9% during the 1st quarter. Bayforest Capital Ltd now owns 52,338 shares of the company's stock valued at $1,145,000 after buying an additional 42,499 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Apellis Pharmaceuticals by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,634 shares of the company's stock valued at $4,869,000 after buying an additional 9,747 shares in the last quarter. Finally, Woodline Partners LP boosted its holdings in shares of Apellis Pharmaceuticals by 15.5% during the 1st quarter. Woodline Partners LP now owns 218,850 shares of the company's stock valued at $4,786,000 after buying an additional 29,373 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

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).