Bank of America Increases Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $43.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective boosted by stock analysts at Bank of America from $40.00 to $43.00 in a report released on Friday, MarketBeat reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 3.42% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus lifted their target price on Apellis Pharmaceuticals from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, August 29th. HC Wainwright reaffirmed a “buy” rating and set a $82.00 target price on shares of Apellis Pharmaceuticals in a research note on Wednesday, August 23rd. Wedbush reaffirmed a “neutral” rating and set a $29.00 target price on shares of Apellis Pharmaceuticals in a research note on Wednesday, August 23rd. Robert W. Baird lowered their price target on Apellis Pharmaceuticals from $115.00 to $70.00 and set an “outperform” rating for the company in a research note on Tuesday, August 1st. Finally, UBS Group boosted their price target on Apellis Pharmaceuticals from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.40.

Apellis Pharmaceuticals Price Performance

Shares of Apellis Pharmaceuticals stock opened at $41.58 on Friday. The company has a current ratio of 5.11, a quick ratio of 4.52 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $44.97 and its two-hundred day moving average price is $67.54. Apellis Pharmaceuticals has a 52 week low of $19.83 and a 52 week high of $94.75. The stock has a market cap of $4.90 billion, a PE ratio of -7.13 and a beta of 1.08.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Monday, July 31st. The company reported ($1.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.35) by $0.33. The firm had revenue of $95.00 million for the quarter, compared to analysts’ expectations of $70.38 million. Apellis Pharmaceuticals had a negative return on equity of 212.82% and a negative net margin of 356.02%. Apellis Pharmaceuticals’s revenue was up 482.8% on a year-over-year basis. During the same quarter last year, the business posted ($1.46) EPS. As a group, sell-side analysts anticipate that Apellis Pharmaceuticals will post -4.92 EPS for the current fiscal year.

Insider Activity

In other Apellis Pharmaceuticals news, CEO Cedric Francois sold 150,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $41.75, for a total value of $6,262,500.00. Following the completion of the transaction, the chief executive officer now owns 424,655 shares of the company’s stock, valued at approximately $17,729,346.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Cedric Francois sold 150,000 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $41.75, for a total value of $6,262,500.00. Following the completion of the sale, the chief executive officer now owns 424,655 shares of the company’s stock, valued at $17,729,346.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Pascal Deschatelets sold 12,000 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $84.55, for a total value of $1,014,600.00. Following the completion of the sale, the insider now directly owns 1,046,813 shares of the company’s stock, valued at approximately $88,508,039.15. The disclosure for this sale can be found here. In the last three months, insiders sold 192,340 shares of company stock worth $9,150,874. 7.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in APLS. Clearstead Advisors LLC purchased a new stake in shares of Apellis Pharmaceuticals during the first quarter valued at approximately $27,000. National Bank of Canada FI purchased a new stake in shares of Apellis Pharmaceuticals during the second quarter valued at approximately $33,000. IFP Advisors Inc increased its position in shares of Apellis Pharmaceuticals by 49,525.0% during the first quarter. IFP Advisors Inc now owns 1,985 shares of the company’s stock valued at $39,000 after acquiring an additional 1,981 shares during the last quarter. Focused Wealth Management Inc purchased a new stake in shares of Apellis Pharmaceuticals during the second quarter valued at approximately $45,000. Finally, US Bancorp DE increased its position in shares of Apellis Pharmaceuticals by 391.2% during the first quarter. US Bancorp DE now owns 1,110 shares of the company’s stock valued at $56,000 after acquiring an additional 884 shares during the last quarter. Institutional investors own 90.43% 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, cold agglutinin disease, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, amyotrophic lateral sclerosis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy (GA).