Scotiabank Issues Positive Forecast for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective upped by Scotiabank from $30.00 to $31.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Other equities research analysts have also issued research reports about the company. HC Wainwright reissued a “buy” rating and issued a $57.00 target price on shares of Apellis Pharmaceuticals in a research report on Monday, March 3rd. Royal Bank of Canada cut their price objective on shares of Apellis Pharmaceuticals from $26.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group decreased their target price on shares of Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Wedbush cut their price target on shares of Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Apellis Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apellis Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $45.59.

Apellis Pharmaceuticals Stock Up 1.4 %

Apellis Pharmaceuticals stock opened at $23.00 on Wednesday. The company has a 50 day moving average of $26.58 and a 200-day moving average of $29.21. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals has a twelve month low of $21.70 and a twelve month high of $58.12. The stock has a market capitalization of $2.89 billion, a PE ratio of -11.33 and a beta of 0.92.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Friday, February 28th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm had revenue of $212.50 million during the quarter, compared to analyst estimates of $197.92 million. During the same period in the prior year, the business earned ($0.73) EPS. The company’s revenue for the quarter was up 45.2% compared to the same quarter last year. On average, equities research analysts anticipate that Apellis Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Caroline Baumal sold 2,816 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $33.81, for a total transaction 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 approximately $1,878,483.60. This trade represents a 4.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Cedric Francois sold 6,247 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.70, for a total value of $179,288.90. Following the completion of the transaction, the chief executive officer now directly owns 307,415 shares in the company, valued at approximately $8,822,810.50. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,054 shares of company stock valued at $1,952,719. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its position in shares of Apellis Pharmaceuticals by 2,707.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock worth $25,000 after purchasing an additional 758 shares during the period. Signaturefd LLC boosted its position in shares of Apellis Pharmaceuticals by 357.2% during the 4th quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock worth $37,000 after acquiring an additional 918 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Apellis Pharmaceuticals in the fourth quarter valued at approximately $83,000. US Bancorp DE raised its position in Apellis Pharmaceuticals by 70.0% during the fourth quarter. US Bancorp DE now owns 3,223 shares of the company’s stock valued at $103,000 after purchasing an additional 1,327 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Apellis Pharmaceuticals by 1,819.2% in the 4th quarter. Covestor Ltd now owns 3,992 shares of the company’s stock valued at $127,000 after purchasing an additional 3,784 shares in 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).