Apellis Pharmaceuticals (NASDAQ:APLS) Raised to Strong-Buy at Evercore ISI

Apellis Pharmaceuticals (NASDAQ:APLS) was upgraded by analysts at Evercore ISI to a “strong-buy” rating in a report released on Thursday, Zacks.com reports.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped their price target on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. HC Wainwright dropped their price target on Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company dropped their price target on Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 24th. Mizuho dropped their price target on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Finally, Royal Bank of Canada began coverage on Apellis Pharmaceuticals in a research report on Friday, October 25th. They issued a “sector perform” rating and a $25.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.41.

Apellis Pharmaceuticals Trading Up 2.6 %

Shares of NASDAQ:APLS traded up $0.72 during midday trading on Thursday, reaching $27.98. The company had a trading volume of 3,251,327 shares, compared to its average volume of 1,693,979. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. Apellis Pharmaceuticals has a 1-year low of $26.28 and a 1-year high of $73.80. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of -10.21 and a beta of 0.87. The company has a fifty day simple moving average of $32.04 and a two-hundred day simple moving average of $37.70.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. The business had revenue of $199.70 million for the quarter, compared to the consensus estimate of $190.89 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm’s revenue was up 110.2% compared to the same quarter last year. During the same period last year, the business earned ($1.02) EPS. Research analysts predict that Apellis Pharmaceuticals will post -1.4 earnings per share for the current year.

Insider Activity at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s 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 owns 100,000 shares in the company, valued at approximately $3,623,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Apellis Pharmaceuticals in the first quarter valued at about $89,000. Capital Performance Advisors LLP acquired a new position in shares of Apellis Pharmaceuticals during the third quarter worth about $56,000. nVerses Capital LLC boosted its position in shares of Apellis Pharmaceuticals by 300.0% during the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after buying an additional 2,100 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Apellis Pharmaceuticals by 1,300.8% during the first quarter. Russell Investments Group Ltd. now owns 3,586 shares of the company’s stock worth $211,000 after buying an additional 3,330 shares during the period. Finally, CWM LLC boosted its position in shares of Apellis Pharmaceuticals by 299.9% during the second quarter. CWM LLC now owns 4,151 shares of the company’s stock worth $159,000 after buying an additional 3,113 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

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).