Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Raised to $37.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective raised by JPMorgan Chase & Co. from $36.00 to $37.00 in a report published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on APLS. Mizuho increased their price target on shares of Apellis Pharmaceuticals from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday. Citigroup reduced their price objective on Apellis Pharmaceuticals from $45.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Royal Bank Of Canada lowered their target price on Apellis Pharmaceuticals from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 25th. Bank of America raised Apellis Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, January 21st. Finally, Wedbush reduced their price target on Apellis Pharmaceuticals from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Twelve 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. Based on data from MarketBeat.com, Apellis Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $32.72.

Apellis Pharmaceuticals Price Performance

NASDAQ:APLS opened at $20.07 on Thursday. Apellis Pharmaceuticals has a one year low of $16.10 and a one year high of $30.48. The company has a market cap of $2.57 billion, a P/E ratio of 154.40 and a beta of 0.26. The firm’s fifty day moving average price is $22.50 and its two-hundred day moving average price is $23.55. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.14 and a quick ratio of 2.70.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.86. The company had revenue of $199.91 million during the quarter, compared to analysts’ expectations of $199.28 million. Apellis Pharmaceuticals had a net margin of 2.23% and a return on equity of 8.20%. Apellis Pharmaceuticals’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.29) EPS. Equities analysts expect that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In other 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 transaction of $168,173.25. Following the sale, the insider directly owned 71,118 shares of the company’s stock, valued at approximately $1,548,238.86. This represents a 9.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel David O. Watson sold 7,832 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total value of $170,502.64. Following the completion of the transaction, 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. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 120,537 shares of company stock worth $2,608,532. 6.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp increased its holdings in Apellis Pharmaceuticals by 206.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,037 shares of the company’s stock valued at $46,000 after buying an additional 1,373 shares during the period. Osaic Holdings Inc. raised its position 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 valued at $47,000 after buying an additional 1,570 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Apellis Pharmaceuticals by 64.1% during the 3rd quarter. Allworth Financial LP now owns 2,194 shares of the company’s stock worth $50,000 after acquiring an additional 857 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter worth approximately $64,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Apellis Pharmaceuticals by 338.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,429 shares of the company’s stock worth $94,000 after acquiring an additional 4,191 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

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.