Wedbush Trims Apellis Pharmaceuticals (NASDAQ:APLS) Target Price to $57.00

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) had its target price cut by equities research analysts at Wedbush from $67.00 to $57.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Wedbush's target price points to a potential upside of 18.68% from the stock's current price.

A number of other equities analysts also recently weighed in on the stock. Robert W. Baird reaffirmed an "outperform" rating and issued a $81.00 target price on shares of Apellis Pharmaceuticals in a research note on Tuesday, February 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $85.00 target price on shares of Apellis Pharmaceuticals in a research note on Tuesday, April 9th. Jefferies Financial Group raised shares of Apellis Pharmaceuticals from a "hold" rating to a "buy" rating and boosted their target price for the stock from $68.00 to $80.00 in a research note on Monday, February 5th. UBS Group boosted their target price on shares of Apellis Pharmaceuticals from $87.00 to $89.00 and gave the stock a "buy" rating in a research note on Monday, March 4th. Finally, Oppenheimer boosted their target price on shares of Apellis Pharmaceuticals from $75.00 to $79.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 30th. Three 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 company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $77.93.

Apellis Pharmaceuticals Price Performance

APLS stock traded down $3.79 during trading on Wednesday, hitting $48.03. 1,678,609 shares of the stock traded hands, compared to its average volume of 1,498,354. Apellis Pharmaceuticals has a one year low of $19.83 and a one year high of $94.75. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of -10.72 and a beta of 0.88. The company has a 50 day simple moving average of $60.54 and a 200 day simple moving average of $57.04. The company has a current ratio of 3.10, a quick ratio of 2.50 and a debt-to-equity ratio of 0.48.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.73). Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The firm had revenue of $146.38 million during the quarter, compared to the consensus estimate of $143.34 million. During the same period last year, the firm posted ($1.50) EPS. The firm's quarterly revenue was up 545.9% on a year-over-year basis. Equities analysts expect that Apellis Pharmaceuticals will post -1.33 EPS for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In related news, CAO James George Chopas sold 1,061 shares of the business's stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $65.00, for a total transaction of $68,965.00. Following the completion of the transaction, the chief accounting officer now owns 39,067 shares in the company, valued at $2,539,355. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO James George Chopas sold 1,061 shares of the business's stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $65.00, for a total transaction of $68,965.00. Following the completion of the transaction, the chief accounting officer now owns 39,067 shares in the company, valued at $2,539,355. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Pascal Deschatelets sold 69,107 shares of the company's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the completion of the transaction, the insider now owns 1,115,983 shares of the company's stock, valued at approximately $60,452,799.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 406,651 shares of company stock worth $25,130,257. 7.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Apellis Pharmaceuticals by 66.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,590,040 shares of the company's stock worth $302,760,000 after purchasing an additional 1,840,498 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Apellis Pharmaceuticals by 79.8% in the third quarter. Jennison Associates LLC now owns 3,542,209 shares of the company's stock worth $134,746,000 after purchasing an additional 1,571,606 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Apellis Pharmaceuticals by 109.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,145,004 shares of the company's stock worth $128,400,000 after purchasing an additional 1,121,497 shares in the last quarter. Norges Bank bought a new stake in shares of Apellis Pharmaceuticals in the fourth quarter worth $54,164,000. Finally, Morgan Stanley lifted its position in shares of Apellis Pharmaceuticals by 112.6% in the third quarter. Morgan Stanley now owns 1,608,996 shares of the company's stock worth $61,206,000 after purchasing an additional 852,331 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company's stock.

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).