Wells Fargo & Company Lowers Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $43.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target reduced by Wells Fargo & Company from $47.00 to $43.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 40.57% from the company’s current price.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price objective on shares of Apellis Pharmaceuticals in a report on Friday, September 20th. Robert W. Baird cut their price target on shares of Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating for the company in a research note on Monday. UBS Group lowered their price objective on Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Jefferies Financial Group restated a “buy” rating and set a $80.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday, July 31st. Finally, Wedbush upped their price target on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.20.

Apellis Pharmaceuticals Trading Down 0.5 %

Apellis Pharmaceuticals stock opened at $30.59 on Tuesday. Apellis Pharmaceuticals has a 12 month low of $30.23 and a 12 month high of $73.80. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -8.84 and a beta of 0.88. The business has a 50 day moving average price of $37.34 and a two-hundred day moving average price of $43.01. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Thursday, August 1st. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The business had revenue of $199.70 million during the quarter, compared to analyst estimates of $190.89 million. During the same period in the prior year, the company posted ($1.02) earnings per share. Apellis Pharmaceuticals’s revenue was up 110.2% on a year-over-year basis. As a group, equities analysts forecast that Apellis Pharmaceuticals will post -1.34 EPS for the current year.

Insiders Place Their Bets

In other news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the sale, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new position in Apellis Pharmaceuticals in the first quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Apellis Pharmaceuticals in the 1st quarter worth $89,000. nVerses Capital LLC boosted its position in shares of Apellis Pharmaceuticals by 300.0% in the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after purchasing an additional 2,100 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Apellis Pharmaceuticals in the fourth quarter valued at about $205,000. Finally, Woodward Diversified Capital LLC bought a new stake in Apellis Pharmaceuticals in the fourth quarter valued at about $210,000. 96.29% of the stock is owned by institutional investors.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. It offers EMPAVELI for the treatment of paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy secondary to age-related macular degeneration and geographic atrophy (GA).