Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Receives Average Recommendation of “Hold” from Analysts

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) have been given an average rating of “Hold” by the twenty-one analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $33.00.

Several equities research analysts recently issued reports on the company. Barclays assumed coverage on Apellis Pharmaceuticals in a report on Wednesday, January 28th. They set an “equal weight” rating and a $24.00 price target for the company. Wells Fargo & Company dropped their price target on shares of Apellis Pharmaceuticals from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Bank of America upgraded shares of Apellis Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Wednesday, January 21st. TD Cowen dropped 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 report on Friday, October 31st. Finally, William Blair restated an “outperform” rating on shares of Apellis Pharmaceuticals in a research note on Monday, December 15th.

Insiders Place Their Bets

In related news, General Counsel David O. Watson sold 7,832 shares of the business’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 transaction, the general counsel directly owned 88,531 shares of the company’s stock, valued at approximately $1,927,319.87. The trade was a 8.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nur Nicholson sold 7,725 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total transaction of $168,173.25. Following the sale, the insider owned 71,118 shares of the company’s stock, valued at $1,548,238.86. This trade represents a 9.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 120,537 shares of company stock valued at $2,608,532. 6.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its position in shares of Apellis Pharmaceuticals by 25.4% during the fourth quarter. Mackenzie Financial Corp now owns 96,211 shares of the company’s stock worth $2,424,000 after acquiring an additional 19,500 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Apellis Pharmaceuticals during the 4th quarter valued at $366,000. Virtus Investment Advisers LLC lifted its holdings in Apellis Pharmaceuticals by 17.4% during the 4th quarter. Virtus Investment Advisers LLC now owns 27,086 shares of the company’s stock worth $680,000 after purchasing an additional 4,013 shares in the last quarter. Twinbeech Capital LP boosted its stake in Apellis Pharmaceuticals by 47.3% in the 4th quarter. Twinbeech Capital LP now owns 13,152 shares of the company’s stock worth $330,000 after purchasing an additional 4,225 shares during the period. Finally, Sphera Funds Management LTD. grew its holdings in Apellis Pharmaceuticals by 294.2% during the 4th quarter. Sphera Funds Management LTD. now owns 250,961 shares of the company’s stock valued at $6,304,000 after buying an additional 187,301 shares in the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ APLS opened at $22.20 on Thursday. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 71.62 and a beta of 0.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.10 and a current ratio of 3.54. Apellis Pharmaceuticals has a fifty-two week low of $16.10 and a fifty-two week high of $30.48. The firm’s 50-day simple moving average is $23.41 and its 200 day simple moving average is $23.89.

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.