Apellis Pharmaceuticals (NASDAQ:APLS) Given New $31.00 Price Target at Scotiabank

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective hoisted by Scotiabank from $30.00 to $31.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price indicates a potential upside of 34.67% from the company’s current price.

Several other equities research analysts also recently weighed in on APLS. JPMorgan Chase & Co. raised their target price on shares of Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Royal Bank of Canada dropped their target price on Apellis Pharmaceuticals from $26.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Monday, March 3rd. The Goldman Sachs Group decreased their price target on Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. HC Wainwright restated a “buy” rating and set a $57.00 price target on shares of Apellis Pharmaceuticals in a research note on Monday, March 3rd. Finally, Wedbush cut their price objective on shares of Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.59.

Apellis Pharmaceuticals Stock Up 1.5 %

Shares of APLS traded up $0.34 during trading hours on Wednesday, hitting $23.02. The company had a trading volume of 800,681 shares, compared to its average volume of 2,062,290. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $2.89 billion, a PE ratio of -11.34 and a beta of 0.92. Apellis Pharmaceuticals has a one year low of $21.70 and a one year high of $58.51. The company’s fifty day moving average price is $26.73 and its two-hundred day moving average price is $29.25.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Friday, February 28th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business had revenue of $212.50 million during the quarter, compared to the consensus estimate of $197.92 million. During the same period in the previous year, the company posted ($0.73) earnings per share. The firm’s revenue was up 45.2% 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 fiscal year.

Insider Activity at Apellis Pharmaceuticals

In related news, CAO James George Chopas sold 1,096 shares of Apellis Pharmaceuticals stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total value of $33,351.28. Following the sale, the chief accounting officer now owns 48,138 shares of the company’s stock, valued at approximately $1,464,839.34. This trade represents a 2.23 % 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, insider Caroline Baumal sold 2,816 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $33.81, for a total transaction of $95,208.96. Following the transaction, the insider now owns 55,560 shares of the company’s stock, valued at $1,878,483.60. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,054 shares of company stock worth $1,952,719 in the last 90 days. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

Several institutional investors have recently modified their holdings of APLS. Xponance Inc. lifted its stake in Apellis Pharmaceuticals by 5.6% in the 4th quarter. Xponance Inc. now owns 14,072 shares of the company’s stock valued at $449,000 after buying an additional 749 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Apellis Pharmaceuticals by 2,707.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after acquiring an additional 758 shares in the last quarter. Woodline Partners LP raised its holdings in Apellis Pharmaceuticals by 0.5% in the 4th quarter. Woodline Partners LP now owns 189,477 shares of the company’s stock valued at $6,046,000 after acquiring an additional 913 shares during the last quarter. Signaturefd LLC lifted its stake in Apellis Pharmaceuticals by 357.2% in the 4th quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock worth $37,000 after purchasing an additional 918 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Apellis Pharmaceuticals by 4.2% during the 3rd quarter. Toronto Dominion Bank now owns 25,622 shares of the company’s stock worth $739,000 after purchasing an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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).