Robert W. Baird Lowers Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $55.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price lowered by Robert W. Baird from $92.00 to $55.00 in a report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

APLS has been the topic of a number of other reports. Bank of America dropped their price objective on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $25.00 price target on shares of Apellis Pharmaceuticals in a research report on Monday. Citigroup reduced their price objective on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday. Needham & Company LLC dropped their target price on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company cut their target price on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Apellis Pharmaceuticals Stock Up 4.3 %

Shares of Apellis Pharmaceuticals stock traded up $1.24 during midday trading on Thursday, reaching $29.98. 4,755,569 shares of the company’s stock traded hands, compared to its average volume of 1,779,661. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. Apellis Pharmaceuticals has a 52 week low of $24.34 and a 52 week high of $73.80. The company’s 50 day simple moving average is $31.19 and its 200 day simple moving average is $37.14. The company has a market cap of $3.65 billion, a price-to-earnings ratio of -10.49 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The company had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The firm’s revenue was up 78.3% on a year-over-year basis. During the same period in the previous year, the business posted ($1.17) earnings per share. Equities analysts expect that Apellis Pharmaceuticals will post -1.4 earnings per share for the current fiscal year.

Insider Activity

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the 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 transaction, the director now owns 100,000 shares of the company’s stock, valued at $3,623,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC bought a new stake in Apellis Pharmaceuticals during the 3rd quarter worth about $27,000. Capital Performance Advisors LLP bought a new position in Apellis Pharmaceuticals in the third quarter valued at approximately $56,000. KBC Group NV increased its position in shares of Apellis Pharmaceuticals by 34.8% during the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after purchasing an additional 679 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Apellis Pharmaceuticals during the 1st quarter worth approximately $89,000. Finally, nVerses Capital LLC grew its stake in shares of Apellis Pharmaceuticals by 300.0% in the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after buying an additional 2,100 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

About Apellis Pharmaceuticals

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).