Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price Down 3.4% – What’s Next?

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)’s stock price was down 3.4% during trading on Monday . The company traded as low as $18.01 and last traded at $18.18. Approximately 71,644 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 2,333,610 shares. The stock had previously closed at $18.83.

Analysts Set New Price Targets

Several research firms recently issued reports on APLS. Cantor Fitzgerald assumed coverage on Apellis Pharmaceuticals in a report on Tuesday, April 29th. They issued an “overweight” rating and a $44.00 price objective on the stock. The Goldman Sachs Group cut their price target on Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. 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. JPMorgan Chase & Co. boosted their price target on Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reduced their price objective on Apellis Pharmaceuticals from $40.00 to $29.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Nine equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Apellis Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $40.05.

Apellis Pharmaceuticals Trading Down 2.8%

The company has a market cap of $2.30 billion, a price-to-earnings ratio of -9.03 and a beta of 0.68. The company’s fifty day moving average price is $18.31 and its two-hundred day moving average price is $25.14. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91.

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

Institutional Trading of Apellis Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. boosted 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 valued at $70,000 after purchasing an additional 573 shares during the period. Xponance Inc. lifted its holdings in shares of Apellis Pharmaceuticals by 5.6% during the 4th quarter. Xponance Inc. now owns 14,072 shares of the company’s stock worth $449,000 after acquiring an additional 749 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Apellis Pharmaceuticals by 2,707.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock worth $25,000 after acquiring an additional 758 shares during the period. Baird Financial Group Inc. lifted its holdings in shares of Apellis Pharmaceuticals by 1.6% during the 1st quarter. Baird Financial Group Inc. now owns 55,529 shares of the company’s stock worth $1,214,000 after acquiring an additional 864 shares during the period. Finally, Woodline Partners LP lifted its holdings 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 worth $6,046,000 after acquiring an additional 913 shares during the period. 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).