Robert W. Baird Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $47.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price reduced by Robert W. Baird from $55.00 to $47.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 171.68% from the company’s current price.

Several other equities research analysts have also issued reports on APLS. Needham & Company LLC reduced their price objective on shares of Apellis Pharmaceuticals from $40.00 to $29.00 and set a “buy” rating for the company in a research note on Wednesday. Scotiabank boosted their price target on Apellis Pharmaceuticals from $30.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 2nd. HC Wainwright reissued a “buy” rating and set a $57.00 price objective on shares of Apellis Pharmaceuticals in a report on Monday, March 3rd. Wedbush reduced their target price on Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Cantor Fitzgerald assumed coverage on Apellis Pharmaceuticals in a report on Tuesday, April 29th. They set an “overweight” rating and a $44.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apellis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.37.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $17.30 on Thursday. Apellis Pharmaceuticals has a fifty-two week low of $16.65 and a fifty-two week high of $43.99. The stock’s 50-day moving average is $21.31 and its two-hundred day moving average is $27.12. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The firm has a market cap of $2.17 billion, a P/E ratio of -8.52 and a beta of 0.73.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.38). The firm had revenue of $149.90 million during the quarter, compared to analyst estimates of $197.61 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.54) EPS. Analysts predict that Apellis Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In related news, General Counsel David O. Watson sold 5,569 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $25.10, for a total value of $139,781.90. Following the completion of the transaction, the general counsel now directly owns 138,730 shares in the company, valued at approximately $3,482,123. This represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 6,115 shares of company stock valued at $154,684 in the last quarter. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of APLS. Avoro Capital Advisors LLC boosted its position in shares of Apellis Pharmaceuticals by 10.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 12,222,222 shares of the company’s stock valued at $390,011,000 after acquiring an additional 1,111,111 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Apellis Pharmaceuticals by 0.8% during the first quarter. Vanguard Group Inc. now owns 10,130,356 shares of the company’s stock valued at $221,551,000 after purchasing an additional 84,331 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Apellis Pharmaceuticals by 51.6% in the 4th quarter. Jennison Associates LLC now owns 2,760,404 shares of the company’s stock valued at $88,084,000 after purchasing an additional 939,289 shares during the period. AQR Capital Management LLC raised its holdings in shares of Apellis Pharmaceuticals by 127.2% in the 4th quarter. AQR Capital Management LLC now owns 1,856,442 shares of the company’s stock worth $59,239,000 after buying an additional 1,039,182 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Apellis Pharmaceuticals by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,838,952 shares of the company’s stock worth $58,699,000 after buying an additional 28,426 shares during the period. Institutional investors own 96.29% of the company’s stock.

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).