Apellis Pharmaceuticals (NASDAQ:APLS) Upgraded by Bank of America to “Buy” Rating

Bank of America upgraded shares of Apellis Pharmaceuticals (NASDAQ:APLS) from a neutral rating to a buy rating in a research note published on Wednesday morning, MarketBeat.com reports. They currently have $28.00 price objective on the stock.

APLS has been the topic of several other research reports. Wolfe Research began coverage on Apellis Pharmaceuticals in a research report on Thursday, November 6th. They set a “peer perform” rating on the stock. TD Cowen reduced their target price on shares of Apellis Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, October 31st. Wall Street Zen raised Apellis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Citigroup cut their price target on Apellis Pharmaceuticals from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. decreased their price target on Apellis Pharmaceuticals from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Twelve analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $33.53.

Apellis Pharmaceuticals Stock Performance

Shares of APLS opened at $20.95 on Wednesday. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 67.58 and a beta of 0.31. Apellis Pharmaceuticals has a 52-week low of $16.10 and a 52-week high of $31.17. The company has a quick ratio of 3.10, a current ratio of 3.54 and a debt-to-equity ratio of 0.90. The stock has a 50 day moving average price of $22.95 and a 200 day moving average price of $23.50.

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

Insiders Place Their Bets

In other news, General Counsel David O. Watson sold 2,475 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $19.79, for a total transaction of $48,980.25. Following the completion of the transaction, the general counsel directly owned 96,363 shares of the company’s stock, valued at $1,907,023.77. This trade represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Cedric Francois sold 8,182 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $19.79, for a total value of $161,921.78. Following the completion of the sale, the chief executive officer directly owned 313,237 shares in the company, valued at approximately $6,198,960.23. The trade was a 2.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 57,973 shares of company stock valued at $1,237,824. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in shares of Apellis Pharmaceuticals by 80.0% during the second quarter. Parallel Advisors LLC now owns 1,924 shares of the company’s stock worth $33,000 after purchasing an additional 855 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Apellis Pharmaceuticals by 206.8% in the third quarter. Jones Financial Companies Lllp now owns 2,037 shares of the company’s stock valued at $46,000 after purchasing an additional 1,373 shares during the last quarter. Osaic Holdings Inc. lifted its position in Apellis Pharmaceuticals by 141.2% during the second quarter. Osaic Holdings Inc. now owns 2,682 shares of the company’s stock worth $47,000 after buying an additional 1,570 shares during the period. Allworth Financial LP grew its holdings in Apellis Pharmaceuticals by 64.1% in the third quarter. Allworth Financial LP now owns 2,194 shares of the company’s stock valued at $50,000 after purchasing an additional 857 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Apellis Pharmaceuticals in the third quarter valued at $64,000. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Apellis Pharmaceuticals

Here are the key news stories impacting Apellis Pharmaceuticals this week:

• Positive Sentiment: BofA upgraded APLS from Neutral to Buy, citing a stronger-than-expected launch trajectory for its newly approved kidney-disease therapy and assigning a $28 price target, which signals meaningful upside from current levels. Apellis upgraded at BofA on launch trajectory for kidney disease therapy
• Positive Sentiment: An analyst piece highlights early uptake of Empaveli (Apellis’s newly approved rare-kidney-disease treatment) and argues current Apellis valuation understates Empaveli’s revenue potential — a narrative that supports a re-rating if commercial momentum continues. Apellis Valuation Ignores Empaveli Potential, Says Analyst
• Neutral Sentiment: Wells Fargo trimmed its price target from $29 to $26 but maintained an Overweight rating — a mixed signal that lowers upside expectations but keeps institutional support. Wells Fargo lowers price target on Apellis
• Neutral Sentiment: RBC Capital reiterated a Hold on APLS, which is a neutral institutional stance and may limit upside from investors seeking stronger analyst conviction. RBC Capital Sticks to Its Hold Rating for Apellis Pharmaceuticals (APLS)
• Negative Sentiment: Multiple senior insiders (including CEO Cedric Francois, CFO Timothy Sullivan, General Counsel David Watson and other officers) sold shares on Jan. 20 — a cluster of Form 4 filings that can weigh on sentiment even if transactions are routine diversification. See CEO filing here for details. CEO Cedric Francois Form 4

About Apellis Pharmaceuticals

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.