Apellis Pharmaceuticals (NASDAQ:APLS) Earns Sector Outperform Rating from Analysts at Scotiabank

Scotiabank assumed coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research note released on Wednesday, MarketBeat Ratings reports. The brokerage issued a sector outperform rating and a $35.00 price target on the stock.

A number of other brokerages also recently weighed in on APLS. Wedbush boosted their price target on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $85.00 price target on shares of Apellis Pharmaceuticals in a report on Friday, September 20th. Mizuho decreased their price objective on Apellis Pharmaceuticals from $42.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. lowered their price objective on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Finally, HC Wainwright reduced their target price on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Apellis Pharmaceuticals Stock Performance

APLS opened at $27.95 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. The business’s 50-day simple moving average is $34.53 and its 200 day simple moving average is $39.92. The firm has a market capitalization of $3.39 billion, a PE ratio of -8.08 and a beta of 0.87. Apellis Pharmaceuticals has a 52-week low of $26.28 and a 52-week high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The business had revenue of $199.70 million during the quarter, compared to analysts’ expectations of $190.89 million. During the same period last year, the business earned ($1.02) earnings per share. The firm’s revenue was up 110.2% on a year-over-year basis. As a group, sell-side analysts expect that Apellis Pharmaceuticals will post -1.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the sale, the director now owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Apellis Pharmaceuticals by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 9,555,678 shares of the company’s stock worth $572,003,000 after acquiring an additional 85,701 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Apellis Pharmaceuticals in the first quarter valued at $29,000. Hennion & Walsh Asset Management Inc. raised its position in Apellis Pharmaceuticals by 14.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 14,068 shares of the company’s stock worth $827,000 after purchasing an additional 1,766 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Apellis Pharmaceuticals by 94.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 115,453 shares of the company’s stock worth $6,786,000 after buying an additional 56,178 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Apellis Pharmaceuticals by 254.5% in the first quarter. Principal Financial Group Inc. now owns 84,604 shares of the company’s stock valued at $4,973,000 after buying an additional 60,741 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

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).