Robert W. Baird Issues Pessimistic Forecast for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective trimmed by Robert W. Baird from $55.00 to $47.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

APLS has been the subject of several other research reports. Wedbush lowered their price objective on Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. HC Wainwright reissued a “buy” rating and set a $57.00 price objective on shares of Apellis Pharmaceuticals in a research note on Monday, March 3rd. Scotiabank raised their target price on shares of Apellis Pharmaceuticals from $30.00 to $31.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 2nd. Cantor Fitzgerald initiated coverage on Apellis Pharmaceuticals in a research report on Tuesday, April 29th. They issued an “overweight” rating and a $44.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.37.

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ APLS opened at $17.30 on Thursday. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. Apellis Pharmaceuticals has a 1 year low of $16.65 and a 1 year high of $43.99. The company’s 50-day moving average is $21.15 and its 200 day moving average is $27.05. The stock has a market capitalization of $2.17 billion, a P/E ratio of -8.52 and a beta of 0.73.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Wednesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.38). The firm had revenue of $149.90 million during the quarter, compared to the consensus estimate of $197.61 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.54) EPS. On average, sell-side analysts expect that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In related news, General Counsel David O. Watson sold 5,569 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $25.10, for a total value of $139,781.90. Following the transaction, the general counsel now owns 138,730 shares of the company’s stock, valued at approximately $3,482,123. This trade represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 6,115 shares of company stock worth $154,684 in the last three months. 6.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. raised its holdings in Apellis Pharmaceuticals by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 3,185 shares of the company’s stock worth $70,000 after purchasing an additional 573 shares during the period. Xponance Inc. increased its position in Apellis Pharmaceuticals by 5.6% in the fourth quarter. Xponance Inc. now owns 14,072 shares of the company’s stock worth $449,000 after buying an additional 749 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Apellis Pharmaceuticals by 2,707.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock worth $25,000 after buying an additional 758 shares during the period. Woodline Partners LP lifted its position in shares of Apellis Pharmaceuticals by 0.5% during the 4th quarter. Woodline Partners LP now owns 189,477 shares of the company’s stock valued at $6,046,000 after buying an additional 913 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Apellis Pharmaceuticals by 357.2% during the 4th quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock valued at $37,000 after acquiring an additional 918 shares during the period. Hedge funds and other 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).