Apellis Pharmaceuticals (NASDAQ:APLS) Trading Down 3.5% on Analyst Downgrade

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Get Free Report) fell 3.5% during trading on Monday after Mizuho lowered their price target on the stock from $60.00 to $52.00. Mizuho currently has a neutral rating on the stock. Apellis Pharmaceuticals traded as low as $48.01 and last traded at $48.11. 88,800 shares were traded during trading, a decline of 94% from the average session volume of 1,458,726 shares. The stock had previously closed at $49.86.

Other equities research analysts have also recently issued reports about the company. UBS Group increased their target price on Apellis Pharmaceuticals from $87.00 to $89.00 and gave the company a "buy" rating in a report on Monday, March 4th. Jefferies Financial Group raised shares of Apellis Pharmaceuticals from a "hold" rating to a "buy" rating and lifted their target price for the stock from $68.00 to $80.00 in a research note on Monday, February 5th. Raymond James increased their price target on shares of Apellis Pharmaceuticals from $67.00 to $106.00 and gave the company a "strong-buy" rating in a research report on Thursday, January 11th. HC Wainwright restated a "buy" rating and issued a $92.00 price objective on shares of Apellis Pharmaceuticals in a research report on Friday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $85.00 target price on shares of Apellis Pharmaceuticals in a report on Thursday. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Apellis Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.40.

Insider Buying and Selling

In related news, Director A. Sinclair Dunlop sold 18,681 shares of Apellis Pharmaceuticals stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $57.18, for a total transaction of $1,068,179.58. Following the completion of the transaction, the director now directly owns 173,998 shares of the company's stock, valued at approximately $9,949,205.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director A. Sinclair Dunlop sold 18,681 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.18, for a total value of $1,068,179.58. Following the sale, the director now owns 173,998 shares in the company, valued at approximately $9,949,205.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cedric Francois sold 3,962 shares of Apellis Pharmaceuticals stock in a transaction on Monday, February 12th. The shares were sold at an average price of $67.77, for a total value of $268,504.74. Following the transaction, the chief executive officer now owns 313,662 shares of the company's stock, valued at approximately $21,256,873.74. The disclosure for this sale can be found here. Insiders have sold a total of 376,427 shares of company stock valued at $23,169,639 over the last ninety days. Company insiders own 7.50% of the company's stock.

Institutional Trading of Apellis Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in APLS. Future Financial Wealth Managment LLC purchased a new stake in Apellis Pharmaceuticals during the first quarter worth $29,000. First Horizon Advisors Inc. lifted its stake in shares of Apellis Pharmaceuticals by 69.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 649 shares of the company's stock worth $25,000 after purchasing an additional 265 shares during the last quarter. Covestor Ltd boosted its position in Apellis Pharmaceuticals by 564.2% during the third quarter. Covestor Ltd now owns 797 shares of the company's stock valued at $30,000 after purchasing an additional 677 shares in the last quarter. Stephens Consulting LLC purchased a new position in Apellis Pharmaceuticals in the third quarter valued at about $38,000. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Apellis Pharmaceuticals by 29.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,028 shares of the company's stock worth $115,000 after purchasing an additional 687 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

Apellis Pharmaceuticals Price Performance

The firm has a market capitalization of $5.77 billion, a P/E ratio of -10.68 and a beta of 0.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.10 and a quick ratio of 2.50. The stock's fifty day simple moving average is $57.84 and its 200 day simple moving average is $57.53.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.73) EPS for the quarter, hitting 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 analyst estimates of $143.34 million. During the same quarter in the previous year, the business posted ($1.50) EPS. Apellis Pharmaceuticals's revenue was up 545.9% on a year-over-year basis. On average, equities research analysts predict that Apellis Pharmaceuticals, Inc. will post -1.34 EPS for the current 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).