Apellis Pharmaceuticals (NASDAQ:APLS) Earns Equal Weight Rating from Analysts at Barclays

Barclays initiated coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research report report published on Wednesday, Marketbeat.com reports. The firm issued an equal weight rating and a $24.00 price target on the stock.

A number of other equities research analysts have also recently weighed in on the company. Wall Street Zen upgraded Apellis Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. TD Cowen reduced their target price on shares of Apellis Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, October 31st. Robert W. Baird increased their price target on shares of Apellis Pharmaceuticals from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Cantor Fitzgerald lowered their price target on shares of Apellis Pharmaceuticals from $39.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. Finally, HC Wainwright reduced their price objective on shares of Apellis Pharmaceuticals from $57.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $33.00.

Apellis Pharmaceuticals Trading Down 2.0%

NASDAQ:APLS opened at $22.58 on Wednesday. The firm has a 50-day simple moving average of $23.30 and a 200-day simple moving average of $23.64. Apellis Pharmaceuticals has a one year low of $16.10 and a one year high of $30.60. The firm has a market cap of $2.86 billion, a P/E ratio of 72.84 and a beta of 0.31. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.10 and a current ratio of 3.54.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Thursday, October 30th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.64. The firm had revenue of $458.58 million for the quarter, compared to the consensus estimate of $364.58 million. Apellis Pharmaceuticals had a net margin of 4.43% and a return on equity of 18.94%. The company’s quarterly revenue was up 133.0% on a year-over-year basis. During the same period last year, the firm earned ($0.46) earnings per share. Equities analysts anticipate that Apellis Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, insider Mark Jeffrey Delong sold 3,371 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.77, for a total transaction of $73,386.67. Following the sale, the insider owned 78,353 shares of the company’s stock, valued at approximately $1,705,744.81. The trade was a 4.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pascal Deschatelets sold 5,928 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total transaction of $129,052.56. Following the completion of the transaction, the insider directly owned 1,151,382 shares of the company’s stock, valued at approximately $25,065,586.14. This represents a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 125,169 shares of company stock worth $2,700,681 over the last ninety days. Company insiders own 6.50% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLS. Jones Financial Companies Lllp increased its holdings in shares of Apellis Pharmaceuticals by 206.8% in the third quarter. Jones Financial Companies Lllp now owns 2,037 shares of the company’s stock valued at $46,000 after purchasing an additional 1,373 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Apellis Pharmaceuticals by 141.2% during the second quarter. Osaic Holdings Inc. now owns 2,682 shares of the company’s stock worth $47,000 after purchasing an additional 1,570 shares during the period. Allworth Financial LP boosted its position in Apellis Pharmaceuticals by 64.1% in the third quarter. Allworth Financial LP now owns 2,194 shares of the company’s stock valued at $50,000 after buying an additional 857 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Apellis Pharmaceuticals in the third quarter valued at approximately $64,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Apellis Pharmaceuticals by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,855 shares of the company’s stock worth $84,000 after buying an additional 655 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.