Apellis Pharmaceuticals, Inc. (NASDAQ:APLS – Get Free Report)’s share price dropped 4.4% during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $64.00 to $57.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Apellis Pharmaceuticals traded as low as $35.96 and last traded at $35.96. Approximately 67,189 shares changed hands during trading, a decline of 95% from the average daily volume of 1,475,236 shares. The stock had previously closed at $37.62.
A number of other equities research analysts have also recently issued reports on APLS. UBS Group decreased their target price on Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 target price on shares of Apellis Pharmaceuticals in a research report on Friday, August 9th. Piper Sandler initiated coverage on Apellis Pharmaceuticals in a report on Friday, May 31st. They set a “neutral” rating and a $46.00 price target for the company. Wedbush upped their price target on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, Robert W. Baird upped their price target on Apellis Pharmaceuticals from $86.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $71.67.
Insider Activity at Apellis Pharmaceuticals
In related news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $39.24, for a total value of $1,451,880.00. Following the completion of the transaction, the director now directly owns 136,998 shares in the company, valued at $5,375,801.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.80% of the stock is currently owned by corporate insiders.
Institutional Trading of Apellis Pharmaceuticals
A number of large investors have recently bought and sold shares of APLS. Future Financial Wealth Managment LLC bought a new stake in Apellis Pharmaceuticals in the first quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Apellis Pharmaceuticals in the first quarter valued at $89,000. nVerses Capital LLC grew its position in 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 acquiring an additional 2,100 shares during the period. CWM LLC grew its position in Apellis Pharmaceuticals by 299.9% in the second quarter. CWM LLC now owns 4,151 shares of the company’s stock valued at $159,000 after acquiring an additional 3,113 shares during the period. Finally, CWA Asset Management Group LLC bought a new stake in Apellis Pharmaceuticals in the fourth quarter valued at $205,000. 96.29% of the stock is currently owned by institutional investors.
Apellis Pharmaceuticals Stock Down 3.5 %
The business has a 50-day simple moving average of $38.14 and a two-hundred day simple moving average of $44.50. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $4.42 billion, a P/E ratio of -10.87 and a beta of 0.88.
Apellis Pharmaceuticals (NASDAQ:APLS – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. The company had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $190.89 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The business’s revenue for the quarter was up 110.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.02) earnings per share. Equities research analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.29 earnings per share 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).