Apellis Pharmaceuticals (NASDAQ:APLS) Given New $30.00 Price Target at Scotiabank

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target dropped by equities researchers at Scotiabank from $35.00 to $30.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 4.60% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Bank of America reduced their target price on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday. Needham & Company LLC lowered their price objective on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday. Mizuho dropped their target price on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Robert W. Baird decreased their price target on Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. Finally, The Goldman Sachs Group raised their target price on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.00.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ:APLS traded up $0.60 during mid-day trading on Wednesday, reaching $28.68. The stock had a trading volume of 916,992 shares, compared to its average volume of 1,767,197. The company has a market cap of $3.49 billion, a P/E ratio of -10.63 and a beta of 0.87. The business’s 50 day moving average price is $31.58 and its 200 day moving average price is $37.26. The company has a current ratio of 5.08, a quick ratio of 4.18 and a debt-to-equity ratio of 1.73. Apellis Pharmaceuticals has a 1 year low of $24.34 and a 1 year high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The firm had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same quarter in the prior year, the company posted ($1.17) earnings per share. The firm’s revenue was up 78.3% compared to the same quarter last year. Research analysts expect that Apellis Pharmaceuticals will post -1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of large investors have recently bought and sold shares of APLS. Assenagon Asset Management S.A. increased its holdings in shares of Apellis Pharmaceuticals by 191.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock valued at $61,845,000 after acquiring an additional 1,409,707 shares during the period. Iron Triangle Partners LP purchased a new stake in shares of Apellis Pharmaceuticals during the first quarter valued at about $32,329,000. Fiera Capital Corp grew its holdings in Apellis Pharmaceuticals by 47.7% in the second quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock worth $53,750,000 after purchasing an additional 452,753 shares during the last quarter. AQR Capital Management LLC grew its holdings in Apellis Pharmaceuticals by 337.3% in the second quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock worth $9,177,000 after purchasing an additional 190,420 shares during the last quarter. Finally, Redmile Group LLC acquired a new position in shares of Apellis Pharmaceuticals during the first quarter worth $9,111,000. Institutional investors 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).