Apellis Pharmaceuticals (NASDAQ:APLS) Coverage Initiated at Barclays

Equities researchers at Barclays initiated coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a report released on Wednesday, MarketBeat.com reports. The firm set an “equal weight” rating and a $24.00 price target on the stock. Barclays‘s target price points to a potential upside of 4.12% from the stock’s current price.

Several other brokerages also recently commented on APLS. HC Wainwright cut their target price on Apellis Pharmaceuticals from $57.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Cantor Fitzgerald lowered their price target on shares of Apellis Pharmaceuticals from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Stifel Nicolaus reduced their price objective on shares of Apellis Pharmaceuticals from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, December 19th. TD Cowen lowered their target price on shares of Apellis Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, Needham & Company LLC cut their price target on shares of Apellis Pharmaceuticals from $29.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, January 13th. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $33.00.

Apellis Pharmaceuticals Trading Down 0.1%

Shares of APLS stock opened at $23.05 on Wednesday. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 74.36 and a beta of 0.31. The company’s fifty day simple moving average is $23.24 and its two-hundred day simple moving average is $23.62. Apellis Pharmaceuticals has a 1 year low of $16.10 and a 1 year high of $30.60. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.54 and a quick ratio of 3.10.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.64. Apellis Pharmaceuticals had a return on equity of 18.94% and a net margin of 4.43%.The firm had revenue of $458.58 million during the quarter, compared to analyst estimates of $364.58 million. During the same period last year, the company earned ($0.46) earnings per share. The business’s revenue for the quarter was up 133.0% on a year-over-year basis. As a group, analysts anticipate that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Transactions at Apellis Pharmaceuticals

In related news, insider Nur Nicholson sold 7,725 shares of the stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total value of $168,173.25. Following the transaction, the insider owned 71,118 shares of the company’s stock, valued at $1,548,238.86. This represents a 9.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David O. Watson sold 7,832 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.77, for a total value of $170,502.64. Following the sale, the general counsel owned 88,531 shares in the company, valued at $1,927,319.87. The trade was a 8.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 125,169 shares of company stock worth $2,700,681. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several institutional investors have recently modified their holdings of APLS. Jones Financial Companies Lllp lifted its position in Apellis Pharmaceuticals by 206.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,037 shares of the company’s stock worth $46,000 after buying an additional 1,373 shares during the last quarter. Allworth Financial LP raised its stake in shares of Apellis Pharmaceuticals by 64.1% during the third quarter. Allworth Financial LP now owns 2,194 shares of the company’s stock worth $50,000 after acquiring an additional 857 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Apellis Pharmaceuticals by 141.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,682 shares of the company’s stock worth $47,000 after acquiring an additional 1,570 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter valued at $64,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Apellis Pharmaceuticals by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,855 shares of the company’s stock valued at $84,000 after purchasing an additional 655 shares during the last quarter. 96.29% of the stock is currently owned by institutional investors.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.