Apellis Pharmaceuticals’ (APLS) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $26.00 price target on the stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC decreased their price objective on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and issued a $57.00 price target on shares of Apellis Pharmaceuticals in a research note on Tuesday, January 14th. Piper Sandler lowered their price target on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Bank of America reduced their price objective on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their target price on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Apellis Pharmaceuticals Trading Up 1.2 %

Shares of NASDAQ APLS opened at $30.76 on Tuesday. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The stock’s 50 day moving average price is $31.95 and its two-hundred day moving average price is $33.25. Apellis Pharmaceuticals has a 52-week low of $24.34 and a 52-week high of $71.90. The stock has a market capitalization of $3.83 billion, a P/E ratio of -15.15 and a beta of 0.94.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The business had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. During the same quarter in the previous year, the business posted ($1.17) earnings per share. The company’s quarterly revenue was up 78.3% compared to the same quarter last year. On average, analysts anticipate that Apellis Pharmaceuticals will post -1.71 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO James George Chopas sold 1,096 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total transaction of $33,351.28. Following the transaction, the chief accounting officer now owns 48,138 shares of the company’s stock, valued at $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 this link. Also, insider Caroline Baumal sold 2,816 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the sale, the insider now owns 55,560 shares of the company’s stock, valued at approximately $1,878,483.60. This represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,112 shares of company stock valued at $1,655,767. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. KBC Group NV grew its holdings in Apellis Pharmaceuticals by 3,862.3% during the fourth quarter. KBC Group NV now owns 104,287 shares of the company’s stock worth $3,328,000 after purchasing an additional 101,655 shares during the period. Merit Financial Group LLC acquired a new stake in shares of Apellis Pharmaceuticals in the fourth quarter valued at approximately $254,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Apellis Pharmaceuticals by 135.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 29,740 shares of the company’s stock worth $949,000 after acquiring an additional 17,115 shares during the period. Eastern Bank increased its holdings in shares of Apellis Pharmaceuticals by 87.0% during the 4th quarter. Eastern Bank now owns 21,500 shares of the company’s stock worth $686,000 after acquiring an additional 10,000 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Apellis Pharmaceuticals by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock valued at $112,036,000 after acquiring an additional 735,160 shares during the period. Institutional investors own 96.29% of the company’s stock.

Apellis Pharmaceuticals Company Profile

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).