Apellis Pharmaceuticals (NASDAQ:APLS) Stock Rating Lowered by Wells Fargo & Company

Apellis Pharmaceuticals (NASDAQ:APLS) was downgraded by investment analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Friday, MarketBeat reports. They presently have a $41.00 price objective on the stock, up from their prior price objective of $26.00. Wells Fargo & Company‘s target price would indicate a potential upside of 0.24% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus lowered their price target on Apellis Pharmaceuticals from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Apellis Pharmaceuticals in a research report on Monday, December 29th. HC Wainwright lowered Apellis Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price target for the stock from $48.00 to $41.00 in a research report on Wednesday, April 1st. 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 research report on Wednesday, January 21st. Finally, Barclays lifted their price target on Apellis Pharmaceuticals from $24.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 1st. Three research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $34.89.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $40.90 on Friday. Apellis Pharmaceuticals has a 12 month low of $16.10 and a 12 month high of $40.95. The stock has a market cap of $5.23 billion, a PE ratio of 314.64 and a beta of -0.19. The company has a current ratio of 3.14, a quick ratio of 2.70 and a debt-to-equity ratio of 0.98. The company’s fifty day moving average price is $25.84 and its 200-day moving average price is $24.19.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Tuesday, February 24th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.86. The firm had revenue of $199.91 million for 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%. The company’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.29) EPS. On average, equities analysts expect that Apellis Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, insider Nur Nicholson sold 7,725 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total value of $168,173.25. Following the completion of the transaction, the insider owned 71,118 shares of the company’s stock, valued at approximately $1,548,238.86. The trade was a 9.80% 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 Pascal Deschatelets sold 5,928 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total value of $129,052.56. Following the completion of the transaction, the insider directly owned 1,151,382 shares of the company’s stock, valued at approximately $25,065,586.14. This trade represents a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 88,167 shares of company stock worth $1,878,741 in the last quarter. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of hedge funds have recently bought and sold shares of APLS. Jones Financial Companies Lllp raised its position in Apellis Pharmaceuticals by 206.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,037 shares of the company’s stock worth $46,000 after buying an additional 1,373 shares during the last quarter. Osaic Holdings Inc. raised its position in Apellis Pharmaceuticals by 141.2% in the 2nd 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 last quarter. Allworth Financial LP raised its position in Apellis Pharmaceuticals by 64.1% in the 3rd quarter. Allworth Financial LP now owns 2,194 shares of the company’s stock worth $50,000 after buying an additional 857 shares during the last quarter. Quantbot Technologies LP purchased a new position in Apellis Pharmaceuticals in the 3rd quarter worth about $64,000. Finally, EverSource Wealth Advisors LLC raised its position in Apellis Pharmaceuticals by 338.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,429 shares of the company’s stock worth $94,000 after buying an additional 4,191 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

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.