Apellis Pharmaceuticals (NASDAQ:APLS) Shares Up 7.7% Following Analyst Upgrade

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Get Free Report) shot up 7.7% during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $26.00 to $29.00. Wells Fargo & Company currently has an equal weight rating on the stock. Apellis Pharmaceuticals traded as high as $18.50 and last traded at $18.24. 369,656 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,278,869 shares. The stock had previously closed at $16.93.

A number of other research analysts also recently issued reports on APLS. JPMorgan Chase & Co. lifted their price target on shares of Apellis Pharmaceuticals from $50.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Robert W. Baird decreased their price objective on shares of Apellis Pharmaceuticals from $55.00 to $47.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. HC Wainwright reiterated a "buy" rating and set a $57.00 target price on shares of Apellis Pharmaceuticals in a research note on Monday, March 3rd. Cantor Fitzgerald began coverage on Apellis Pharmaceuticals in a report on Tuesday, April 29th. They issued an "overweight" rating and a $44.00 target price on the stock. Finally, Royal Bank of Canada cut their price target on Apellis Pharmaceuticals from $21.00 to $18.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 8th. Nine investment analysts have rated the stock with a hold rating, eleven have given 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 a consensus price target of $40.05.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Apellis Pharmaceuticals by 2,707.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company's stock worth $25,000 after purchasing an additional 758 shares during the period. Assetmark Inc. raised its position in Apellis Pharmaceuticals by 3,938.7% during the 1st quarter. Assetmark Inc. now owns 1,252 shares of the company's stock worth $27,000 after buying an additional 1,221 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Apellis Pharmaceuticals by 357.2% in the 4th quarter. Signaturefd LLC now owns 1,175 shares of the company's stock worth $37,000 after acquiring an additional 918 shares during the period. GF Fund Management CO. LTD. lifted its stake in shares of Apellis Pharmaceuticals by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 3,185 shares of the company's stock worth $70,000 after acquiring an additional 573 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Apellis Pharmaceuticals by 70.0% in the fourth quarter. US Bancorp DE now owns 3,223 shares of the company's stock valued at $103,000 after acquiring an additional 1,327 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

Apellis Pharmaceuticals Trading Down 1.6%

The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The business's 50 day moving average price is $18.59 and its 200-day moving average price is $25.75. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -9.12 and a beta of 0.73.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.38). Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business had revenue of $149.90 million during the quarter, compared to analysts' expectations of $197.61 million. During the same period in the prior year, the firm posted ($0.54) EPS. Apellis Pharmaceuticals's revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

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).