Apellis Pharmaceuticals’ (NASDAQ:APLS) quiet period will end on Tuesday, December 19th. Apellis Pharmaceuticals had issued 10,714,000 shares in its IPO on November 9th. The total size of the offering was $149,996,000 based on an initial share price of $14.00. During Apellis Pharmaceuticals’ quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

APLS has been the topic of a number of research analyst reports. Citigroup initiated coverage on Apellis Pharmaceuticals in a research report on Monday, December 4th. They set a “buy” rating and a $23.00 price target on the stock. J P Morgan Chase & Co initiated coverage on Apellis Pharmaceuticals in a research report on Monday, December 4th. They set an “overweight” rating and a $31.00 price target on the stock. Finally, Evercore ISI initiated coverage on Apellis Pharmaceuticals in a research report on Monday, December 4th. They set an “outperform” rating on the stock.

Shares of Apellis Pharmaceuticals (NASDAQ APLS) opened at $14.52 on Tuesday. Apellis Pharmaceuticals has a 12-month low of $12.45 and a 12-month high of $15.41.

In other Apellis Pharmaceuticals news, major shareholder Global Strategic Fund I. Venbio purchased 127,515 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were acquired at an average cost of $14.00 per share, for a total transaction of $1,785,210.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

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About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company focuses on the discovery and development of therapeutic compounds for autoimmune and inflammatory diseases. The Company’s lead compounds are designed to inhibit complement component 3 (C3), the central protein in the complement cascade.

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