Apellis Pharmaceuticals (NASDAQ:APLS) Receives Sector Perform Rating from Royal Bank of Canada

Apellis Pharmaceuticals (NASDAQ:APLS)‘s stock had its “sector perform” rating reissued by analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They currently have a $26.00 price target on the stock. Royal Bank of Canada’s target price would indicate a potential downside of 11.97% from the company’s current price.

Several other equities analysts have also recently weighed in on APLS. Scotiabank cut their price objective on Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 6th. Piper Sandler cut their price target on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th. HC Wainwright restated a “buy” rating and issued a $57.00 price objective on shares of Apellis Pharmaceuticals in a research note on Tuesday, January 14th. Bank of America cut their target price on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Finally, Evercore ISI upgraded shares of Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

Apellis Pharmaceuticals Stock Up 0.9 %

Shares of NASDAQ:APLS traded up $0.26 on Wednesday, reaching $29.54. The company had a trading volume of 216,829 shares, compared to its average volume of 1,997,108. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $3.67 billion, a P/E ratio of -14.55 and a beta of 0.94. The stock has a 50-day moving average price of $32.16 and a 200 day moving average price of $32.99. Apellis Pharmaceuticals has a twelve month low of $24.34 and a twelve month high of $71.90.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The firm had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. Apellis Pharmaceuticals’s quarterly revenue was up 78.3% on a year-over-year basis. During the same period in the prior year, the company posted ($1.17) earnings per share. On average, equities analysts expect that Apellis Pharmaceuticals will post -1.7 EPS for the current year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 3,323 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total transaction of $101,118.89. Following the transaction, the general counsel now owns 144,994 shares of the company’s stock, valued at approximately $4,412,167.42. This represents a 2.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Caroline Baumal sold 2,816 shares of Apellis Pharmaceuticals stock in a transaction on Monday, January 6th. The shares were sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the sale, the insider now directly owns 55,560 shares of the company’s stock, valued at $1,878,483.60. This trade represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,112 shares of company stock valued at $1,655,767. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Wolverine Asset Management LLC acquired a new position in Apellis Pharmaceuticals during the 3rd quarter valued at about $27,000. True Wealth Design LLC acquired a new position in Apellis Pharmaceuticals in the third quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new position in Apellis Pharmaceuticals in the third quarter valued at approximately $56,000. KBC Group NV grew its holdings in Apellis Pharmaceuticals by 34.8% during the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after acquiring an additional 679 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Apellis Pharmaceuticals by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock valued at $130,000 after acquiring an additional 781 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Apellis Pharmaceuticals Company Profile

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).