Apellis Pharmaceuticals (NASDAQ:APLS) Shares Gap Down to $25.85

Apellis Pharmaceuticals Inc (NASDAQ:APLS) shares gapped down before the market opened on Friday . The stock had previously closed at $22.71, but opened at $25.85. Apellis Pharmaceuticals shares last traded at $24.78, with a volume of 463,518 shares.

Several equities analysts recently weighed in on APLS shares. ValuEngine lowered shares of Apellis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $54.00 target price (up previously from $50.00) on shares of Apellis Pharmaceuticals in a report on Monday, November 25th. Credit Suisse Group started coverage on shares of Apellis Pharmaceuticals in a report on Tuesday, November 5th. They set a “neutral” rating and a $33.00 target price for the company. Wedbush started coverage on shares of Apellis Pharmaceuticals in a research report on Wednesday, November 27th. They set an “underperform” rating and a $23.00 target price for the company. Finally, Zacks Investment Research raised Apellis Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $42.00.

The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -10.25 and a beta of 0.64. The company has a 50-day moving average price of $28.34 and a 200-day moving average price of $26.26. The company has a debt-to-equity ratio of 1.09, a quick ratio of 10.12 and a current ratio of 10.12.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.09). As a group, sell-side analysts anticipate that Apellis Pharmaceuticals Inc will post -4.09 earnings per share for the current fiscal year.

In other Apellis Pharmaceuticals news, CEO Cedric Francois sold 5,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $27.81, for a total value of $139,050.00. Also, COO Pascal Deschatelets sold 42,460 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $24.82, for a total transaction of $1,053,857.20. Insiders have sold a total of 57,460 shares of company stock worth $1,464,957 in the last three months. 10.60% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Apellis Pharmaceuticals by 160.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,300 shares of the company’s stock valued at $33,000 after buying an additional 800 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in Apellis Pharmaceuticals during the 2nd quarter worth $39,000. Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $75,000 after buying an additional 1,099 shares during the period. Bank of Montreal Can bought a new position in Apellis Pharmaceuticals during the second quarter worth about $103,000. Finally, III Capital Management bought a new position in Apellis Pharmaceuticals during the third quarter worth about $169,000. 61.68% of the stock is owned by institutional investors.

About Apellis Pharmaceuticals (NASDAQ:APLS)

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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