Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS – Get Free Report) traded down 5.9% on Thursday after Wells Fargo & Company lowered their price target on the stock from $57.00 to $48.00. Wells Fargo & Company currently has an equal weight rating on the stock. Apellis Pharmaceuticals traded as low as $41.03 and last traded at $41.03. 151,572 shares traded hands during trading, a decline of 90% from the average session volume of 1,526,521 shares. The stock had previously closed at $43.60.
Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group raised shares of Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $80.00 in a report on Monday, February 5th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of Apellis Pharmaceuticals in a report on Wednesday, May 8th. Oppenheimer increased their price objective on Apellis Pharmaceuticals from $75.00 to $79.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. HC Wainwright restated a “buy” rating and issued a $92.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday, May 8th. Finally, Wedbush reduced their price target on shares of Apellis Pharmaceuticals from $67.00 to $57.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Apellis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.27.
Insider Activity at Apellis Pharmaceuticals
In other Apellis Pharmaceuticals news, CFO Timothy Eugene Sullivan sold 6,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $63.22, for a total value of $379,320.00. Following the completion of the sale, the chief financial officer now owns 93,338 shares in the company, valued at approximately $5,900,828.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Timothy Eugene Sullivan sold 6,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $63.22, for a total value of $379,320.00. Following the completion of the sale, the chief financial officer now directly owns 93,338 shares of the company’s stock, valued at approximately $5,900,828.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Pascal Deschatelets sold 78,907 shares of Apellis Pharmaceuticals stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $42.35, for a total transaction of $3,341,711.45. Following the sale, the insider now directly owns 1,115,983 shares in the company, valued at approximately $47,261,880.05. The disclosure for this sale can be found here. Insiders have sold a total of 448,012 shares of company stock worth $26,015,139 in the last 90 days. Company insiders own 6.80% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Comerica Bank boosted its stake in Apellis Pharmaceuticals by 500.7% during the first quarter. Comerica Bank now owns 8,163 shares of the company’s stock worth $480,000 after acquiring an additional 6,804 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Apellis Pharmaceuticals in the 1st quarter worth approximately $266,000. Iron Triangle Partners LP bought a new position in Apellis Pharmaceuticals during the 1st quarter valued at approximately $32,329,000. Jacobs Levy Equity Management Inc. raised its stake in Apellis Pharmaceuticals by 4.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 20,057 shares of the company’s stock valued at $1,179,000 after buying an additional 903 shares during the last quarter. Finally, Redmile Group LLC purchased a new position in Apellis Pharmaceuticals during the first quarter valued at $9,111,000. Institutional investors own 96.29% of the company’s stock.
Apellis Pharmaceuticals Stock Down 9.0 %
The company has a quick ratio of 3.02, a current ratio of 3.77 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $50.14 and a 200 day simple moving average of $56.90. The firm has a market capitalization of $4.82 billion, a P/E ratio of -11.47 and a beta of 0.97.
Apellis Pharmaceuticals (NASDAQ:APLS – Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.54) EPS for the quarter, meeting the consensus estimate of ($0.54). The company had revenue of $172.33 million for the quarter, compared to the consensus estimate of $163.37 million. Apellis Pharmaceuticals had a negative net margin of 79.67% and a negative return on equity of 160.77%. Apellis Pharmaceuticals’s revenue for the quarter was up 284.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.56) EPS. On average, equities analysts expect that Apellis Pharmaceuticals, Inc. will post -1.12 EPS for the current fiscal year.
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).