Royal Bank Of Canada Forecasts Strong Price Appreciation for Apellis Pharmaceuticals (NASDAQ:APLS) Stock

Key Points

• Royal Bank Of Canada has raised its price target for Apellis Pharmaceuticals from $17.00 to $19.00, indicating a potential downside of 17.37% from the current stock price while maintaining a "sector perform" rating.
• Other analysts have varying ratings, with Cantor Fitzgerald setting a target of $40.00 and Robert W. Baird raising theirs to $50.00, resulting in a consensus price target of $37.78.
• Apellis Pharmaceuticals recently reported a $0.33 loss per share, better than analysts' expectations of $0.44, with revenues declining 10.6% year-over-year.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) had its price objective upped by stock analysts at Royal Bank Of Canada from $17.00 to $19.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential downside of 17.37% from the stock's current price.

Other research analysts have also issued reports about the company. Cantor Fitzgerald lifted their target price on Apellis Pharmaceuticals from $39.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday. Robert W. Baird raised their price objective on shares of Apellis Pharmaceuticals from $47.00 to $50.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Mizuho dropped their price target on Apellis Pharmaceuticals from $30.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 14th. Scotiabank reduced their target price on Apellis Pharmaceuticals from $28.00 to $20.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Finally, Raymond James Financial dropped their target price on Apellis Pharmaceuticals from $52.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.78.

Apellis Pharmaceuticals Trading Up 2.9%

Shares of NASDAQ APLS traded up $0.65 on Friday, reaching $22.99. 962,968 shares of the company traded hands, compared to its average volume of 2,261,257. Apellis Pharmaceuticals has a fifty-two week low of $16.10 and a fifty-two week high of $41.94. The company has a 50 day moving average of $18.56 and a 200 day moving average of $21.91. The company has a current ratio of 4.08, a quick ratio of 3.62 and a debt-to-equity ratio of 2.76. The stock has a market capitalization of $2.89 billion, a PE ratio of -12.89 and a beta of 0.67.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.44) by $0.11. The firm had revenue of $171.39 million during the quarter, compared to the consensus estimate of $187.91 million. Apellis Pharmaceuticals had a negative net margin of 28.83% and a negative return on equity of 99.19%. The company's revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.30) EPS. On average, equities research analysts forecast that Apellis Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 5,000 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $19.55, for a total value of $97,750.00. Following the completion of the transaction, the general counsel owned 128,730 shares in the company, valued at $2,516,671.50. This represents a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Cedric Francois sold 137,465 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $20.19, for a total transaction of $2,775,418.35. Following the sale, the chief executive officer owned 343,433 shares of the company's stock, valued at $6,933,912.27. This trade represents a 28.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 169,090 shares of company stock valued at $3,403,832 in the last 90 days. 6.50% of the stock is currently owned by insiders.

Institutional Trading of Apellis Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Apellis Pharmaceuticals by 119.6% during the 1st quarter. AQR Capital Management LLC now owns 4,077,419 shares of the company's stock valued at $89,173,000 after buying an additional 2,220,977 shares during the period. Boxer Capital Management LLC acquired a new position in shares of Apellis Pharmaceuticals during the 4th quarter valued at $45,504,000. Royal Bank of Canada lifted its holdings in Apellis Pharmaceuticals by 969.6% in the 4th quarter. Royal Bank of Canada now owns 1,518,827 shares of the company's stock worth $48,465,000 after buying an additional 1,376,832 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Apellis Pharmaceuticals in the fourth quarter worth about $40,461,000. Finally, Avoro Capital Advisors LLC lifted its stake in shares of Apellis Pharmaceuticals by 10.0% in the fourth quarter. Avoro Capital Advisors LLC now owns 12,222,222 shares of the company's stock worth $390,011,000 after acquiring an additional 1,111,111 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

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).

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