Apellis Pharmaceuticals (NASDAQ:APLS) Upgraded by JPMorgan Chase & Co. to Overweight

Apellis Pharmaceuticals (NASDAQ:APLS) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Friday, The Fly reports.

A number of other analysts have also issued reports on the company. ValuEngine upgraded Vistra Energy from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. Zacks Investment Research upgraded HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Robert W. Baird initiated coverage on Uniqure in a report on Thursday, March 28th. They issued an “outperform” rating and a $85.00 target price for the company. Cowen restated a “hold” rating on shares of Sunesis Pharmaceuticals in a report on Sunday, June 16th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $107.00 target price on shares of Perrigo in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $43.29.

APLS opened at $26.12 on Friday. The firm has a fifty day simple moving average of $22.72. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -11.16 and a beta of 0.74. Apellis Pharmaceuticals has a 12-month low of $11.45 and a 12-month high of $27.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.23 and a quick ratio of 15.23.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Wednesday, May 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.20). On average, equities analysts expect that Apellis Pharmaceuticals will post -3.21 earnings per share for the current year.

Several large investors have recently made changes to their positions in APLS. Hillhouse Capital Advisors Ltd. purchased a new stake in shares of Apellis Pharmaceuticals during the fourth quarter worth $29,410,000. BlackRock Inc. raised its holdings in shares of Apellis Pharmaceuticals by 30.8% during the fourth quarter. BlackRock Inc. now owns 3,730,626 shares of the company’s stock worth $49,208,000 after acquiring an additional 877,431 shares in the last quarter. Orbimed Advisors LLC purchased a new stake in shares of Apellis Pharmaceuticals during the fourth quarter worth $4,313,000. Assenagon Asset Management S.A. purchased a new stake in shares of Apellis Pharmaceuticals during the first quarter worth $6,025,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Apellis Pharmaceuticals by 21.7% during the first quarter. Victory Capital Management Inc. now owns 1,688,663 shares of the company’s stock worth $32,929,000 after acquiring an additional 300,900 shares in the last quarter. Institutional investors and hedge funds own 63.45% of the company’s stock.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 that is in Phase III clinical trials for the treatment of geographic atrophy in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria diseases; and in Phase II clinical trials for the treatment of cold agglutinin and warm antibody autoimmune hemolytic anemia diseases, as well as in Phase II clinical trials to treat four types of glomerular diseases, such as C3 glomerulopathy, IgA nephropathy, primary membranous nephropathy, and lupus nephritis.

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Analyst Recommendations for Apellis Pharmaceuticals (NASDAQ:APLS)

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