Apellis Pharmaceuticals (APLS) Earns Buy Rating from Analysts at B. Riley

Equities researchers at B. Riley started coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research report issued on Thursday, MarketBeat Ratings reports. The firm set a “buy” rating and a $27.00 price target on the stock. B. Riley’s price objective indicates a potential upside of 92.72% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Citigroup started coverage on shares of Apellis Pharmaceuticals in a report on Monday, December 4th. They set a “buy” rating and a $23.00 price objective for the company. Evercore ISI began coverage on shares of Apellis Pharmaceuticals in a research note on Monday, December 4th. They issued an “outperform” rating for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Apellis Pharmaceuticals in a research note on Monday, December 4th. They issued an “overweight” rating and a $31.00 price target for the company.

Apellis Pharmaceuticals (APLS) traded down $1.00 during trading hours on Thursday, reaching $14.01. 107,265 shares of the company’s stock were exchanged, compared to its average volume of 74,553. Apellis Pharmaceuticals has a 1-year low of $12.45 and a 1-year high of $25.49.

In other Apellis Pharmaceuticals news, major shareholder Global Strategic Fund I. Venbio acquired 127,515 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $14.00 per share, with a total value of $1,785,210.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Several institutional investors have recently made changes to their positions in APLS. Jennison Associates LLC bought a new stake in Apellis Pharmaceuticals during the 4th quarter worth approximately $13,170,000. Quantitative Systematic Strategies LLC bought a new position in Apellis Pharmaceuticals in the fourth quarter worth about $317,000. NF Trinity Capital Hong Kong Ltd bought a new position in Apellis Pharmaceuticals in the fourth quarter worth about $7,750,000. Bank of New York Mellon Corp bought a new position in Apellis Pharmaceuticals in the fourth quarter worth about $416,000. Finally, BlackRock Inc. bought a new position in Apellis Pharmaceuticals in the fourth quarter worth about $21,096,000. 1.29% of the stock is 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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