Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Lowered to $85.00 at UBS Group

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price decreased by UBS Group from $89.00 to $85.00 in a research report released on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other research analysts have also issued reports on APLS. Robert W. Baird reaffirmed an outperform rating and issued a $81.00 target price on shares of Apellis Pharmaceuticals in a research note on Tuesday, February 6th. Oppenheimer lifted their target price on shares of Apellis Pharmaceuticals from $75.00 to $79.00 and gave the stock an outperform rating in a report on Tuesday, January 30th. Mizuho cut their price target on Apellis Pharmaceuticals from $60.00 to $52.00 and set a neutral rating on the stock in a research note on Monday, April 29th. JPMorgan Chase & Co. lifted their price objective on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an overweight rating in a research note on Wednesday, March 6th. Finally, The Goldman Sachs Group upped their price objective on Apellis Pharmaceuticals from $65.00 to $90.00 and gave the company a buy rating in a report on Tuesday, January 9th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $76.67.

Apellis Pharmaceuticals Price Performance

APLS opened at $42.30 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.10 and a quick ratio of 2.50. The stock has a market capitalization of $5.13 billion, a P/E ratio of -9.44 and a beta of 0.97. The company’s 50 day simple moving average is $54.30 and its 200-day simple moving average is $57.42. Apellis Pharmaceuticals has a one year low of $19.83 and a one year high of $94.75.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Tuesday, May 7th. The company reported ($0.54) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.54). The company had revenue of $172.33 million during the quarter, compared to the consensus estimate of $163.37 million. Apellis Pharmaceuticals had a negative return on equity of 178.60% and a negative net margin of 133.34%. The firm’s quarterly revenue was up 284.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.56) earnings per share. Sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.27 earnings per share for the current fiscal year.

Insider Activity

In other Apellis Pharmaceuticals news, insider Adam J. Townsend sold 1,148 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $67.77, for a total transaction of $77,799.96. Following the sale, the insider now directly owns 92,453 shares in the company, valued at approximately $6,265,539.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Apellis Pharmaceuticals news, insider Adam J. Townsend sold 1,148 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $67.77, for a total value of $77,799.96. Following the sale, the insider now owns 92,453 shares of the company’s stock, valued at approximately $6,265,539.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David O. Watson sold 781 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $67.77, for a total value of $52,928.37. Following the transaction, the general counsel now directly owns 103,390 shares of the company’s stock, valued at $7,006,740.30. The disclosure for this sale can be found here. Insiders have sold 376,427 shares of company stock worth $23,169,639 in the last 90 days. Corporate insiders own 7.50% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

A number of institutional investors have recently made changes to their positions in APLS. Commonwealth Equity Services LLC boosted its stake in shares of Apellis Pharmaceuticals by 48.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,922 shares of the company’s stock worth $263,000 after buying an additional 2,263 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Apellis Pharmaceuticals by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 360,287 shares of the company’s stock valued at $13,705,000 after purchasing an additional 2,998 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Apellis Pharmaceuticals by 10.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,021 shares of the company’s stock valued at $533,000 after purchasing an additional 1,310 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Apellis Pharmaceuticals by 69.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 649 shares of the company’s stock worth $25,000 after purchasing an additional 265 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Apellis Pharmaceuticals by 88.5% during the 3rd quarter. Assetmark Inc. now owns 11,369 shares of the company’s stock worth $432,000 after purchasing an additional 5,339 shares in the last quarter. Institutional investors own 96.29% of the company’s stock.

About Apellis Pharmaceuticals

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).