Apellis Pharmaceuticals (NASDAQ:APLS) had its price target trimmed by JPMorgan Chase & Co. from $38.00 to $34.00 in a research note published on Wednesday. The brokerage currently has an overweight rating on the stock.
APLS has been the subject of a number of other reports. Cantor Fitzgerald set a $53.00 price target on shares of Apellis Pharmaceuticals and gave the company a buy rating in a report on Monday, October 1st. Zacks Investment Research upgraded shares of Apellis Pharmaceuticals from a sell rating to a hold rating in a report on Monday, October 8th. B. Riley upped their price target on shares of Apellis Pharmaceuticals from $27.00 to $40.00 and gave the company a buy rating in a report on Thursday, September 13th. ValuEngine upgraded shares of Apellis Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, November 1st. Finally, Cowen reiterated a buy rating and set a $40.00 price target on shares of Apellis Pharmaceuticals in a report on Wednesday, August 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Apellis Pharmaceuticals presently has an average rating of Buy and an average target price of $35.83.
NASDAQ:APLS traded up $0.79 during midday trading on Wednesday, reaching $14.46. 161,315 shares of the stock traded hands, compared to its average volume of 278,291. Apellis Pharmaceuticals has a 12 month low of $11.45 and a 12 month high of $32.00. The company has a quick ratio of 26.02, a current ratio of 26.02 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $828.07 million and a P/E ratio of -3.90.
In related news, major shareholder Morningside Venture Investment acquired 140,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was acquired at an average cost of $18.34 per share, for a total transaction of $2,567,600.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel David O. Watson sold 15,776 shares of the company’s stock in a transaction 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.
A number of hedge funds and other institutional investors have recently modified their holdings of APLS. Wells Fargo & Company MN raised its holdings in Apellis Pharmaceuticals by 285.3% in the 1st quarter. Wells Fargo & Company MN now owns 6,149 shares of the company’s stock worth $136,000 after purchasing an additional 4,553 shares in the last quarter. Northern Trust Corp raised its holdings in Apellis Pharmaceuticals by 3.7% in the 1st quarter. Northern Trust Corp now owns 119,443 shares of the company’s stock worth $2,640,000 after purchasing an additional 4,316 shares in the last quarter. BlackRock Inc. grew its position in shares of Apellis Pharmaceuticals by 13.9% in the 1st quarter. BlackRock Inc. now owns 1,106,847 shares of the company’s stock worth $24,473,000 after buying an additional 134,695 shares during the period. TD Asset Management Inc. purchased a new stake in shares of Apellis Pharmaceuticals in the 2nd quarter worth about $428,000. Finally, Victory Capital Management Inc. grew its position in shares of Apellis Pharmaceuticals by 150.2% in the 2nd quarter. Victory Capital Management Inc. now owns 932,753 shares of the company’s stock worth $20,520,000 after buying an additional 559,913 shares during the period. Institutional investors and hedge funds own 58.39% of the company’s stock.
About Apellis Pharmaceuticals
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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