Scotiabank Has Lowered Expectations for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective reduced by research analysts at Scotiabank from $35.00 to $30.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 4.38% from the stock’s current price.

Other research analysts have also issued research reports about the company. HC Wainwright reduced their price objective on Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday. Evercore ISI upgraded Apellis Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, October 31st. Needham & Company LLC lowered their target price on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler lowered their target price on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company lowered their price objective on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Apellis Pharmaceuticals Trading Down 0.3 %

Shares of NASDAQ:APLS opened at $28.74 on Wednesday. Apellis Pharmaceuticals has a 52-week low of $24.34 and a 52-week high of $73.80. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. The stock has a 50 day moving average price of $31.19 and a 200-day moving average price of $37.14.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The company had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same period last year, the business earned ($1.17) EPS. The firm’s quarterly revenue was up 78.3% on a year-over-year basis. On average, equities research analysts forecast that Apellis Pharmaceuticals will post -1.4 EPS for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wolverine Asset Management LLC bought a new position in Apellis Pharmaceuticals in the third quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new position in Apellis Pharmaceuticals in the third quarter worth approximately $56,000. KBC Group NV grew its stake in Apellis Pharmaceuticals by 34.8% in the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after purchasing an additional 679 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Apellis Pharmaceuticals in the first quarter worth approximately $89,000. Finally, nVerses Capital LLC grew its stake in Apellis Pharmaceuticals by 300.0% in the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

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).