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Citigroup Lowers Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $54.00

Last updated on Tuesday, June 30, 2020 | 2020 MarketBeat

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target cut by equities researchers at Citigroup from $56.00 to $54.00 in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. The firm currently has a "buy" rating on the stock. Citigroup's price target points to a potential upside of 75.50% from the company's previous close.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Apellis Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday, March 10th. JPMorgan Chase & Co. lifted their target price on Apellis Pharmaceuticals from $54.00 to $56.00 and gave the stock an "overweight" rating in a research report on Monday, June 8th. BTIG Research initiated coverage on Apellis Pharmaceuticals in a research note on Tuesday, June 16th. They set a "neutral" rating on the stock. Oppenheimer reaffirmed a "buy" rating and set a $62.00 target price on shares of Apellis Pharmaceuticals in a research note on Friday, June 12th. Finally, Raymond James started coverage on shares of Apellis Pharmaceuticals in a research note on Tuesday, March 31st. They set a "strong-buy" rating and a $86.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Apellis Pharmaceuticals currently has a consensus rating of "Buy" and an average price target of $51.00.

Shares of Apellis Pharmaceuticals stock opened at $30.77 on Tuesday. Apellis Pharmaceuticals has a 52-week low of $16.85 and a 52-week high of $45.04. The company's 50-day simple moving average is $32.10 and its 200-day simple moving average is $33.23. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -4.90 and a beta of 1.27. The company has a quick ratio of 13.25, a current ratio of 13.25 and a debt-to-equity ratio of 0.60.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Wednesday, April 29th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of ($1.38) by ($0.91). Equities research analysts anticipate that Apellis Pharmaceuticals will post -6.27 EPS for the current year.

In other news, Director Alec Machiels sold 2,500 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $30.21, for a total transaction of $75,525.00. Also, CEO Cedric Francois sold 5,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $30.21, for a total value of $151,050.00. 9.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. acquired a new position in Apellis Pharmaceuticals in the 1st quarter worth approximately $68,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Apellis Pharmaceuticals by 15.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,556 shares of the company's stock worth $79,000 after buying an additional 350 shares during the period. Verus Capital Partners LLC acquired a new stake in shares of Apellis Pharmaceuticals in the fourth quarter worth $81,000. Great West Life Assurance Co. Can acquired a new position in Apellis Pharmaceuticals during the fourth quarter valued at $83,000. Finally, IMA Wealth Inc. purchased a new stake in Apellis Pharmaceuticals in the 1st quarter worth about $107,000. Institutional investors and hedge funds own 72.64% of the company's stock.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 that is in Phase III clinical trials for the treatment of geographic atrophy in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria diseases; and in Phase II clinical trials for the treatment of cold agglutinin and warm antibody autoimmune hemolytic anemia diseases, as well as in Phase II clinical trials to treat four types of glomerular diseases, such as C3 glomerulopathy, IgA nephropathy, primary membranous nephropathy, and lupus nephritis.

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Analyst Recommendations for Apellis Pharmaceuticals (NASDAQ:APLS)

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