Apellis Pharmaceuticals’ (APLS) “Buy” Rating Reiterated at Needham & Company LLC

by · The Markets Daily

Needham & Company LLC restated their buy rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS – Free Report) in a research report released on Tuesday, Benzinga reports. Needham & Company LLC currently has a $85.00 price objective on the stock.

APLS has been the topic of a number of other research reports. Raymond James lifted their price target on shares of Apellis Pharmaceuticals from $67.00 to $106.00 and gave the company a strong-buy rating in a research note on Thursday, January 11th. Wedbush lifted their price target on shares of Apellis Pharmaceuticals from $60.00 to $67.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. Wells Fargo & Company lowered shares of Apellis Pharmaceuticals from an overweight rating to an equal weight rating and cut their price target for the company from $67.00 to $54.00 in a research note on Thursday, December 14th. Robert W. Baird reaffirmed an outperform rating and issued a $81.00 price target on shares of Apellis Pharmaceuticals in a research note on Tuesday, February 6th. Finally, Mizuho reissued a neutral rating and issued a $60.00 price objective on shares of Apellis Pharmaceuticals in a research report on Wednesday, March 27th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apellis Pharmaceuticals presently has an average rating of Moderate Buy and an average target price of $78.60.

Check Out Our Latest Stock Report on Apellis Pharmaceuticals

Apellis Pharmaceuticals Stock Down 7.1 %

Apellis Pharmaceuticals stock opened at $51.79 on Tuesday. The company’s 50 day simple moving average is $61.56 and its 200 day simple moving average is $56.70. Apellis Pharmaceuticals has a fifty-two week low of $19.83 and a fifty-two week high of $94.75. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of -11.56 and a beta of 0.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.10 and a quick ratio of 2.50.

Apellis Pharmaceuticals (NASDAQ:APLS – Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.73) earnings per share for the quarter, hitting the consensus estimate of ($0.73). Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The business had revenue of $146.38 million for the quarter, compared to analyst estimates of $143.34 million. During the same quarter last year, the firm earned ($1.50) EPS. Apellis Pharmaceuticals’s quarterly revenue was up 545.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.36 EPS for the current year.

Insider Buying and Selling

In related news, insider Pascal Deschatelets sold 69,107 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the transaction, the insider now directly owns 1,115,983 shares in the company, valued at $60,452,799.11. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Jeffrey Eisele sold 438 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $66.81, for a total transaction of $29,262.78. Following the transaction, the insider now directly owns 72,650 shares in the company, valued at $4,853,746.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Pascal Deschatelets sold 69,107 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the completion of the transaction, the insider now owns 1,115,983 shares in the company, valued at $60,452,799.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 422,279 shares of company stock worth $26,174,364. Insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of APLS. First Horizon Advisors Inc. increased its holdings in shares of Apellis Pharmaceuticals by 69.0% in the third quarter. First Horizon Advisors Inc. now owns 649 shares of the company’s stock valued at $25,000 after purchasing an additional 265 shares during the last quarter. Covestor Ltd increased its holdings in shares of Apellis Pharmaceuticals by 564.2% in the third quarter. Covestor Ltd now owns 797 shares of the company’s stock valued at $30,000 after purchasing an additional 677 shares during the last quarter. Stephens Consulting LLC acquired a new position in shares of Apellis Pharmaceuticals in the third quarter valued at $38,000. US Bancorp DE increased its holdings in shares of Apellis Pharmaceuticals by 391.2% in the first quarter. US Bancorp DE now owns 1,110 shares of the company’s stock valued at $56,000 after purchasing an additional 884 shares during the last quarter. Finally, KBC Group NV acquired a new position in shares of Apellis Pharmaceuticals in the fourth quarter valued at $97,000. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Apellis Pharmaceuticals Company Profile

(Get Free Report)

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).

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