Apellis Pharmaceuticals’ (APLS) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research report released on Tuesday,Benzinga reports.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Apellis Pharmaceuticals from a “buy” rating to a “sell” rating in a report on Saturday, February 28th. JPMorgan Chase & Co. upped their price target on shares of Apellis Pharmaceuticals from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Wedbush decreased their price target on shares of Apellis Pharmaceuticals from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Mizuho increased their price target on shares of Apellis Pharmaceuticals from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Cantor Fitzgerald reduced their price target on shares of Apellis Pharmaceuticals from $35.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Twelve research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $32.42.

Apellis Pharmaceuticals Stock Performance

Apellis Pharmaceuticals stock opened at $40.23 on Tuesday. The company has a 50 day moving average price of $21.11 and a 200-day moving average price of $22.58. The company has a market capitalization of $5.14 billion, a PE ratio of 309.49 and a beta of 0.26. Apellis Pharmaceuticals has a fifty-two week low of $16.10 and a fifty-two week high of $40.45. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.70 and a current ratio of 3.14.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.86. Apellis Pharmaceuticals had a return on equity of 8.20% and a net margin of 2.23%.The business had revenue of $199.91 million during the quarter, compared to analyst estimates of $199.28 million. During the same period in the previous year, the company posted ($0.29) EPS. Apellis Pharmaceuticals’s revenue was down 5.9% on a year-over-year basis. As a group, equities analysts forecast that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In related news, insider Pascal Deschatelets sold 5,928 shares of Apellis Pharmaceuticals stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.77, for a total value of $129,052.56. Following the sale, the insider 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cedric Francois sold 27,192 shares of the stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $21.77, for a total transaction of $591,969.84. Following the transaction, the chief executive officer directly owned 286,045 shares in the company, valued at approximately $6,227,199.65. The trade was a 8.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 115,537 shares of company stock worth $2,486,082. Insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wedmont Private Capital lifted its position in shares of Apellis Pharmaceuticals by 4.1% during the 4th quarter. Wedmont Private Capital now owns 11,883 shares of the company’s stock valued at $315,000 after acquiring an additional 468 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Apellis Pharmaceuticals by 0.6% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 96,125 shares of the company’s stock worth $2,415,000 after purchasing an additional 530 shares in the last quarter. Amalgamated Bank grew its position in Apellis Pharmaceuticals by 6.9% in the 3rd quarter. Amalgamated Bank now owns 8,674 shares of the company’s stock valued at $196,000 after purchasing an additional 563 shares during the period. Xponance LLC grew its holdings in shares of Apellis Pharmaceuticals by 3.9% during the fourth quarter. Xponance LLC now owns 18,164 shares of the company’s stock valued at $456,000 after buying an additional 681 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Apellis Pharmaceuticals by 64.1% during the third quarter. Allworth Financial LP now owns 2,194 shares of the company’s stock valued at $50,000 after buying an additional 857 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Apellis Pharmaceuticals

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

• Positive Sentiment: Biogen agreed to buy Apellis for $41.00 per share in cash and a CVR that could add up to $4 more if SYFOVRE sales targets are reached — the acquisition explains the sharp upward move as investors price toward the deal. Biogen to acquire Apellis Pharmaceuticals for $5.6B, adding C3 therapies to portfolio
• Positive Sentiment: Major outlets widely reported the transaction (coverage increases deal visibility and supports market acceptance of the offer price). Biogen to Acquire Apellis Pharmaceuticals for $5.6 Billion (WSJ)
• Neutral Sentiment: Needham & Company reaffirmed a “hold” rating on Apellis — a routine analyst reaction that does not change the deal fundamentals. Needham reaffirms hold
• Neutral Sentiment: Cantor Fitzgerald recently lowered its price target to $31 (from $35) before the deal; the firm still had an Overweight rating — now largely superseded by the acquisition price but illustrative of pre-deal analyst views. Cantor Fitzgerald cuts PT to $31
• Negative Sentiment: Shareholder law firms (Ademi LLP and Halper Sadeh LLC) launched investigations into whether Apellis shareholders are receiving a fair price — potential legal challenges or proxy disputes could delay or complicate the closing and create downside risk. Ademi investigation Halper Sadeh investigation

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.