Robert W. Baird Increases Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $96.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price upped by stock analysts at Robert W. Baird from $86.00 to $96.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 159.39% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. Wells Fargo & Company cut their target price on Apellis Pharmaceuticals from $57.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 23rd. Citigroup reduced their price objective on Apellis Pharmaceuticals from $67.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 target price on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. HC Wainwright cut their price target on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, The Goldman Sachs Group raised their price objective on shares of Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a “buy” rating in a report on Friday. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.63.

Apellis Pharmaceuticals Stock Down 1.7 %

Shares of APLS traded down $0.65 during trading hours on Friday, reaching $37.01. The stock had a trading volume of 1,885,232 shares, compared to its average volume of 1,541,113. The firm has a 50-day simple moving average of $38.70 and a 200 day simple moving average of $49.60. Apellis Pharmaceuticals has a 12 month low of $23.86 and a 12 month high of $73.80. The company has a current ratio of 5.08, a quick ratio of 3.02 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of -10.70 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.03. The business had revenue of $199.70 million for the quarter, compared to analysts’ expectations of $190.89 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The firm’s revenue for the quarter was up 110.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.02) EPS. Equities research analysts predict that Apellis Pharmaceuticals will post -1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $39.24, for a total value of $1,451,880.00. Following the completion of the transaction, the director now directly owns 136,998 shares in the company, valued at $5,375,801.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC bought a new stake in Apellis Pharmaceuticals in the 1st quarter worth $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Apellis Pharmaceuticals in the 1st quarter valued at approximately $89,000. 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 valued at $107,000 after purchasing an additional 2,100 shares in the last quarter. CWM LLC grew its stake in Apellis Pharmaceuticals by 299.9% in the second quarter. CWM LLC now owns 4,151 shares of the company’s stock worth $159,000 after purchasing an additional 3,113 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in Apellis Pharmaceuticals in the fourth quarter worth $205,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About Apellis Pharmaceuticals

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).