Scotiabank Issues Pessimistic Forecast for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective cut by Scotiabank from $28.00 to $20.00 in a report published on Thursday,Benzinga reports. They currently have a sector perform rating on the stock.

Other equities analysts have also recently issued reports about the company. Robert W. Baird dropped their price objective on Apellis Pharmaceuticals from $55.00 to $47.00 and set an “outperform” rating for the company in a report on Thursday. Wedbush cut their price objective on shares of Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Needham & Company LLC decreased their target price on shares of Apellis Pharmaceuticals from $40.00 to $29.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company reduced their price target on shares of Apellis Pharmaceuticals from $30.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Thursday. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.37.

Apellis Pharmaceuticals Stock Down 2.9 %

APLS opened at $17.30 on Thursday. The stock has a fifty day moving average of $21.15 and a 200-day moving average of $27.05. The company has a market capitalization of $2.17 billion, a P/E ratio of -8.52 and a beta of 0.73. Apellis Pharmaceuticals has a fifty-two week low of $16.65 and a fifty-two week high of $43.99. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Wednesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.38). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The business had revenue of $149.90 million for the quarter, compared to analyst estimates of $197.61 million. During the same quarter in the previous year, the company earned ($0.54) EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts expect that Apellis Pharmaceuticals will post -1.7 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel David O. Watson sold 5,569 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $25.10, for a total value of $139,781.90. Following the sale, the general counsel now owns 138,730 shares of the company’s stock, valued at $3,482,123. The trade was 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 the SEC website. Insiders have sold a total of 6,115 shares of company stock worth $154,684 in the last ninety days. Company insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Boxer Capital Management LLC acquired a new stake in shares of Apellis Pharmaceuticals in the fourth quarter valued at about $45,504,000. National Bank of Canada FI boosted its holdings in Apellis Pharmaceuticals by 266,361.5% in the fourth quarter. National Bank of Canada FI now owns 1,385,600 shares of the company’s stock valued at $44,214,000 after acquiring an additional 1,385,080 shares during the last quarter. Royal Bank of Canada increased its position in Apellis Pharmaceuticals by 969.6% during the 4th quarter. Royal Bank of Canada now owns 1,518,827 shares of the company’s stock valued at $48,465,000 after purchasing an additional 1,376,832 shares during the period. Cibc World Markets Corp bought a new position in Apellis Pharmaceuticals during the 4th quarter worth approximately $41,014,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Apellis Pharmaceuticals in the 4th quarter worth approximately $40,461,000. 96.29% of the stock is owned by institutional investors and hedge funds.

About Apellis Pharmaceuticals

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).