Wells Fargo & Company Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $43.00

by · The Markets Daily

Apellis Pharmaceuticals (NASDAQ:APLS – Free Report) had its price target decreased by Wells Fargo & Company from $47.00 to $43.00 in a research report released on Tuesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research analysts also recently issued reports on APLS. UBS Group cut their price target on Apellis Pharmaceuticals from $85.00 to $83.00 and set a buy rating on the stock in a report on Friday, August 9th. HC Wainwright cut their price target on Apellis Pharmaceuticals from $92.00 to $83.00 and set a buy rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on Apellis Pharmaceuticals from $64.00 to $57.00 and set an overweight rating on the stock in a report on Friday, September 13th. The Goldman Sachs Group lifted their price target on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the company a buy rating in a report on Friday, August 9th. Finally, Mizuho cut their price target on Apellis Pharmaceuticals from $42.00 to $39.00 and set a neutral rating on the stock in a report on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $70.20.

Read Our Latest Report on Apellis Pharmaceuticals

Apellis Pharmaceuticals Trading Down 2.4 %

APLS opened at $29.85 on Tuesday. The stock’s fifty day moving average is $37.18 and its two-hundred day moving average is $42.92. The company has a market capitalization of $3.63 billion, a P/E ratio of -8.63 and a beta of 0.88. Apellis Pharmaceuticals has a 52 week low of $29.59 and a 52 week high of $73.80. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73.

Apellis Pharmaceuticals (NASDAQ:APLS – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. The company had revenue of $199.70 million for the quarter, compared to the consensus estimate of $190.89 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. Apellis Pharmaceuticals’s quarterly revenue was up 110.2% on a year-over-year basis. During the same period last year, the business posted ($1.02) EPS. Analysts forecast that Apellis Pharmaceuticals will post -1.34 earnings per share for the current year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the sale, the director now owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of APLS. Future Financial Wealth Managment LLC purchased a new position in shares of Apellis Pharmaceuticals in the 1st quarter valued at about $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Apellis Pharmaceuticals during the 1st quarter worth approximately $89,000. nVerses Capital LLC increased its stake in Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after buying an additional 2,100 shares in the last quarter. CWM LLC boosted its holdings in shares of Apellis Pharmaceuticals by 299.9% during the 2nd 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 last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of Apellis Pharmaceuticals during the 4th quarter worth approximately $205,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

About Apellis Pharmaceuticals

(Get Free Report)

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).

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