Citigroup Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $51.00

by · The Markets Daily

Apellis Pharmaceuticals (NASDAQ:APLS – Get Free Report) had its price target cut by stock analysts at Citigroup from $63.00 to $51.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 80.98% from the company’s current price.

A number of other brokerages also recently issued reports on APLS. Robert W. Baird reduced their price target on shares of Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. Wedbush lifted their target price on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Wells Fargo & Company decreased their target price on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Oppenheimer cut their price target on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, William Blair began coverage on Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $53.24.

Check Out Our Latest Stock Analysis on Apellis Pharmaceuticals

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ APLS traded up $0.10 during mid-day trading on Wednesday, reaching $28.18. The company’s stock had a trading volume of 1,604,849 shares, compared to its average volume of 1,770,396. The stock has a fifty day moving average of $31.58 and a two-hundred day moving average of $37.26. The firm has a market capitalization of $3.43 billion, a PE ratio of -10.28 and a beta of 0.87. Apellis Pharmaceuticals has a 52 week low of $24.34 and a 52 week high of $73.80. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18.

Apellis Pharmaceuticals (NASDAQ:APLS – Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The business had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The company’s revenue for the quarter was up 78.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.17) earnings per share. As a group, sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the transaction, the director now owns 100,000 shares in the company, valued at $3,623,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of large investors have recently bought and sold shares of APLS. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Apellis Pharmaceuticals in the first quarter worth $3,218,000. Edgestream Partners L.P. purchased a new position in Apellis Pharmaceuticals in the 1st quarter worth about $942,000. Envestnet Asset Management Inc. increased its stake in Apellis Pharmaceuticals by 42.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock worth $5,161,000 after buying an additional 39,931 shares during the period. Profund Advisors LLC lifted its holdings in Apellis Pharmaceuticals by 90.7% during the 2nd quarter. Profund Advisors LLC now owns 42,968 shares of the company’s stock valued at $1,648,000 after buying an additional 20,435 shares in the last quarter. Finally, Algert Global LLC boosted its position in Apellis Pharmaceuticals by 137.8% in the 2nd quarter. Algert Global LLC now owns 123,628 shares of the company’s stock valued at $4,742,000 after buying an additional 71,650 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About Apellis Pharmaceuticals

(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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