Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $57.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective cut by equities research analysts at Wedbush from $67.00 to $57.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price target suggests a potential upside of 19.97% from the stock’s current price. Wedbush also issued estimates for Apellis Pharmaceuticals’ FY2025 earnings at $2.23 EPS.

Several other brokerages have also recently commented on APLS. HC Wainwright reiterated a “buy” rating and issued a $92.00 price target on shares of Apellis Pharmaceuticals in a research report on Monday. The Goldman Sachs Group upped their target price on Apellis Pharmaceuticals from $65.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Mizuho reissued a “neutral” rating and issued a $60.00 price objective on shares of Apellis Pharmaceuticals in a research report on Wednesday, March 27th. Jefferies Financial Group upgraded Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and upped their target price for the company from $68.00 to $80.00 in a research note on Monday, February 5th. Finally, JPMorgan Chase & Co. upped their target price on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.93.

Apellis Pharmaceuticals Stock Performance

APLS stock opened at $47.51 on Wednesday. The company has a market capitalization of $5.73 billion, a P/E ratio of -10.60 and a beta of 0.88. The company has a 50-day simple moving average of $60.13 and a 200 day simple moving average of $56.97. Apellis Pharmaceuticals has a fifty-two week low of $19.83 and a fifty-two week high of $94.75. The company has a quick ratio of 2.50, a current ratio of 3.10 and a debt-to-equity ratio of 0.48.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.73) earnings per share for the quarter, hitting the consensus estimate of ($0.73). The business had revenue of $146.38 million during the quarter, compared to the consensus estimate of $143.34 million. Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The company’s quarterly revenue was up 545.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.50) earnings per share. Sell-side analysts predict that Apellis Pharmaceuticals will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel David O. Watson sold 781 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $67.77, for a total value of $52,928.37. Following the completion of the sale, the general counsel now directly owns 103,390 shares in the company, valued at $7,006,740.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Adam J. Townsend sold 1,148 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $67.77, for a total transaction of $77,799.96. Following the transaction, the insider now owns 92,453 shares in the company, valued at approximately $6,265,539.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David O. Watson sold 781 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $67.77, for a total value of $52,928.37. Following the transaction, the general counsel now owns 103,390 shares in the company, valued at approximately $7,006,740.30. The disclosure for this sale can be found here. Insiders sold a total of 406,651 shares of company stock worth $25,130,257 over the last three months. 7.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Apellis Pharmaceuticals by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 315,480 shares of the company’s stock worth $16,029,000 after purchasing an additional 17,287 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Apellis Pharmaceuticals during the 1st quarter worth approximately $820,000. US Bancorp DE grew its holdings in Apellis Pharmaceuticals by 391.2% in the 1st quarter. US Bancorp DE now owns 1,110 shares of the company’s stock valued at $56,000 after buying an additional 884 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Apellis Pharmaceuticals by 67.0% in the 1st quarter. MetLife Investment Management LLC now owns 41,293 shares of the company’s stock valued at $2,098,000 after buying an additional 16,567 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Apellis Pharmaceuticals by 5.2% in the 1st quarter. Rhumbline Advisers now owns 77,764 shares of the company’s stock valued at $3,951,000 after buying an additional 3,835 shares in the last quarter. 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).