Cantor Fitzgerald reissued their overweight rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research report released on Thursday, Zacks.com reports.
A number of other research analysts have also commented on the company. Cowen set a $40.00 price objective on Apellis Pharmaceuticals and gave the company a buy rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised Apellis Pharmaceuticals from a neutral rating to an overweight rating and increased their price objective for the company from $35.00 to $49.00 in a report on Friday, July 12th. Zacks Investment Research raised Apellis Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, October 1st. ValuEngine lowered Apellis Pharmaceuticals from a hold rating to a sell rating in a report on Wednesday, October 2nd. Finally, Oppenheimer began coverage on Apellis Pharmaceuticals in a report on Tuesday, July 9th. They set an outperform rating and a $52.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $45.14.
Shares of NASDAQ APLS opened at $27.83 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.67 and a current ratio of 8.67. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -11.89 and a beta of 0.68. The business’s 50-day simple moving average is $26.75 and its 200-day simple moving average is $24.08. Apellis Pharmaceuticals has a 52 week low of $11.45 and a 52 week high of $33.18.
In related news, CEO Cedric Francois sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $26.80, for a total transaction of $268,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Timothy Eugene Sullivan bought 11,699 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were acquired at an average price of $29.71 per share, with a total value of $347,577.29. Following the purchase, the chief financial officer now owns 11,699 shares in the company, valued at $347,577.29. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 62,460 shares of company stock valued at $1,593,857. 10.60% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in Apellis Pharmaceuticals by 160.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,300 shares of the company’s stock valued at $33,000 after purchasing an additional 800 shares during the period. Tower Research Capital LLC TRC bought a new stake in Apellis Pharmaceuticals during the 2nd quarter valued at approximately $39,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Apellis Pharmaceuticals by 59.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,944 shares of the company’s stock valued at $75,000 after purchasing an additional 1,099 shares during the period. Bank of Montreal Can bought a new stake in Apellis Pharmaceuticals during the 2nd quarter valued at approximately $103,000. Finally, JPMorgan Chase & Co. boosted its stake in Apellis Pharmaceuticals by 50.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 13,276 shares of the company’s stock valued at $325,000 after purchasing an additional 4,465 shares during the period. Hedge funds and other institutional investors own 63.51% of the company’s stock.
About Apellis Pharmaceuticals
Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 that is in Phase III clinical trials for the treatment of geographic atrophy in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria diseases; and in Phase II clinical trials for the treatment of cold agglutinin and warm antibody autoimmune hemolytic anemia diseases, as well as in Phase II clinical trials to treat four types of glomerular diseases, such as C3 glomerulopathy, IgA nephropathy, primary membranous nephropathy, and lupus nephritis.
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