Brokerages Set Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Price Target at $46.71

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) have received an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $46.71.

APLS has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday, January 29th. Oppenheimer cut their price objective on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Citigroup cut their price objective on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Wells Fargo & Company cut their target price on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Finally, William Blair started coverage on shares of Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued an “outperform” rating for the company.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, insider Caroline Baumal sold 2,816 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the transaction, the insider now directly owns 55,560 shares of the company’s stock, valued at approximately $1,878,483.60. This trade represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Cedric Francois sold 2,824 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $29.52, for a total value of $83,364.48. Following the transaction, the chief executive officer now directly owns 415,695 shares of the company’s stock, valued at $12,271,316.40. The trade was a 0.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,002 shares of company stock worth $1,800,119. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in shares of Apellis Pharmaceuticals by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock worth $112,036,000 after acquiring an additional 735,160 shares in the last quarter. AlphaCentric Advisors LLC acquired a new position in Apellis Pharmaceuticals in the third quarter worth $1,370,000. GSA Capital Partners LLP acquired a new position in Apellis Pharmaceuticals in the third quarter worth $824,000. BNP Paribas Financial Markets boosted its holdings in shares of Apellis Pharmaceuticals by 52.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 159,700 shares of the company’s stock valued at $4,606,000 after buying an additional 55,282 shares during the period. Finally, Old West Investment Management LLC acquired a new position in shares of Apellis Pharmaceuticals in the 3rd quarter valued at about $2,953,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

Apellis Pharmaceuticals Stock Down 0.5 %

APLS opened at $28.53 on Friday. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The firm has a 50 day moving average price of $31.68 and a 200-day moving average price of $32.41. Apellis Pharmaceuticals has a twelve month low of $24.34 and a twelve month high of $71.90. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -14.05 and a beta of 0.96.

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).