Scotiabank Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $20.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective lowered by Scotiabank from $28.00 to $20.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

Several other analysts have also recently commented on the company. The Goldman Sachs Group decreased their target price on Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Wedbush lowered their price objective on shares of Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Royal Bank of Canada decreased their price target on shares of Apellis Pharmaceuticals from $24.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Monday, April 21st. HC Wainwright restated a “buy” rating and issued a $57.00 price objective on shares of Apellis Pharmaceuticals in a research report on Monday, March 3rd. Finally, Robert W. Baird decreased their price objective on Apellis Pharmaceuticals from $55.00 to $47.00 and set an “outperform” rating on the stock in a research report on Thursday. Nine research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apellis Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $41.37.

Apellis Pharmaceuticals Stock Performance

Apellis Pharmaceuticals stock opened at $17.30 on Thursday. Apellis Pharmaceuticals has a 52-week low of $16.65 and a 52-week high of $43.99. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The stock has a fifty day moving average price of $21.15 and a two-hundred day moving average price of $27.05. The firm 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 posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.38). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The firm had revenue of $149.90 million for the quarter, compared to analyst estimates of $197.61 million. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.54) EPS. As a group, analysts anticipate that Apellis Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in APLS. Barclays PLC increased its holdings in Apellis Pharmaceuticals by 18.0% during the third quarter. Barclays PLC now owns 255,897 shares of the company’s stock worth $7,381,000 after buying an additional 39,019 shares during the last quarter. Eastern Bank increased its stake in shares of Apellis Pharmaceuticals by 87.0% during the 4th quarter. Eastern Bank now owns 21,500 shares of the company’s stock worth $686,000 after purchasing an additional 10,000 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Apellis Pharmaceuticals by 135.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 29,740 shares of the company’s stock valued at $949,000 after purchasing an additional 17,115 shares during the period. Merit Financial Group LLC acquired a new stake in Apellis Pharmaceuticals in the 4th quarter valued at about $254,000. Finally, KBC Group NV grew its holdings in Apellis Pharmaceuticals by 3,862.3% during the fourth quarter. KBC Group NV now owns 104,287 shares of the company’s stock worth $3,328,000 after purchasing an additional 101,655 shares during the period. Institutional investors and hedge funds 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).