Apellis Pharmaceuticals (APLS) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Apellis Pharmaceuticals (NASDAQ:APLS) from a sell rating to a hold rating in a research note released on Monday morning.

According to Zacks, “Apellis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It focused on the development of novel therapeutic compounds to treat disease through the inhibition of the complement system, which is an integral component of the immune system, at the level of C3, the central protein in the complement cascade. Apellis Pharmaceuticals, Inc. is based in CRESTWOOD, United States. “

A number of other brokerages have also issued reports on APLS. Cantor Fitzgerald reiterated a buy rating and set a $52.00 price target on shares of Apellis Pharmaceuticals in a research note on Wednesday, June 27th. Cowen began coverage on shares of Apellis Pharmaceuticals in a research note on Tuesday, July 10th. They set an outperform rating and a $40.00 price target on the stock. Finally, B. Riley boosted their price target on shares of Apellis Pharmaceuticals from $27.00 to $40.00 and gave the stock a buy rating in a research note on Thursday, September 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Apellis Pharmaceuticals presently has an average rating of Buy and an average price target of $36.00.

Shares of NASDAQ:APLS opened at $15.98 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 26.02 and a current ratio of 26.02. The stock has a market cap of $998.85 million and a price-to-earnings ratio of -4.35. Apellis Pharmaceuticals has a 1 year low of $12.45 and a 1 year high of $32.00.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Tuesday, July 31st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.14). Analysts anticipate that Apellis Pharmaceuticals will post -2.2 EPS for the current fiscal year.

In other news, major shareholder Morningside Venture Investment bought 81,323 shares of the business’s stock in a transaction that occurred on Friday, September 21st. The shares were purchased at an average cost of $19.48 per share, for a total transaction of $1,584,172.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David O. Watson sold 15,776 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $18.78, for a total transaction of $296,273.28. The disclosure for this sale can be found here. 9.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its stake in shares of Apellis Pharmaceuticals by 186.1% during the second quarter. Legal & General Group Plc now owns 5,385 shares of the company’s stock worth $118,000 after buying an additional 3,503 shares during the period. MetLife Investment Advisors LLC purchased a new stake in shares of Apellis Pharmaceuticals during the first quarter worth approximately $126,000. Wells Fargo & Company MN increased its stake in shares of Apellis Pharmaceuticals by 285.3% during the first quarter. Wells Fargo & Company MN now owns 6,149 shares of the company’s stock worth $136,000 after buying an additional 4,553 shares during the period. PNC Financial Services Group Inc. purchased a new stake in shares of Apellis Pharmaceuticals during the second quarter worth approximately $162,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Apellis Pharmaceuticals during the first quarter worth approximately $245,000. Hedge funds and other institutional investors own 57.58% of the company’s stock.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapeutic compounds for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 to treat geographic atrophy, wet age-related macular degeneration, paroxysmal nocturnal hemoglobinuria, autoimmune hemolytic anemia, and nephrology.

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