Zacks: Apellis Pharmaceuticals Inc (APLS) Given Consensus Rating of “Strong Buy” by Analysts

Apellis Pharmaceuticals Inc (NASDAQ:APLS) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12 month consensus price target of $32.50 for the company and are expecting that the company will post ($0.27) EPS for the current quarter, according to Zacks. Zacks has also given Apellis Pharmaceuticals an industry rank of 195 out of 265 based on the ratings given to related companies.

Several analysts have weighed in on APLS shares. JPMorgan Chase & Co. started coverage on Apellis Pharmaceuticals in a report on Monday, December 4th. They issued an “overweight” rating and a $31.00 price target on the stock. Citigroup started coverage on Apellis Pharmaceuticals in a report on Monday, December 4th. They issued a “buy” rating and a $23.00 price target on the stock. Evercore ISI started coverage on Apellis Pharmaceuticals in a report on Monday, December 4th. They issued an “outperform” rating on the stock. Finally, B. Riley started coverage on Apellis Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $27.00 price target on the stock.

Apellis Pharmaceuticals (APLS) traded down $1.00 during trading hours on Friday, hitting $14.01. The company’s stock had a trading volume of 107,265 shares, compared to its average volume of 104,150. Apellis Pharmaceuticals has a 1 year low of $12.45 and a 1 year high of $25.49. The stock has a market cap of $705.18 and a PE ratio of -17.51.

In other Apellis Pharmaceuticals news, major shareholder Global Strategic Fund I. Venbio purchased 127,515 shares of the stock in a transaction on Monday, November 13th. The shares were purchased at an average price of $14.00 per share, with a total value of $1,785,210.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American International Group Inc. purchased a new position in shares of Apellis Pharmaceuticals during the 4th quarter valued at about $158,000. Vivo Capital LLC purchased a new position in shares of Apellis Pharmaceuticals during the 4th quarter valued at about $31,635,000. BlackRock Inc. purchased a new position in shares of Apellis Pharmaceuticals during the 4th quarter valued at about $21,096,000. Bank of New York Mellon Corp purchased a new position in shares of Apellis Pharmaceuticals during the 4th quarter valued at about $416,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Apellis Pharmaceuticals during the 4th quarter valued at about $186,000. 1.29% of the stock is currently owned by institutional investors.

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Apellis Pharmaceuticals Company Profile

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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