JPMorgan Chase & Co. Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $36.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target cut by JPMorgan Chase & Co. from $40.00 to $36.00 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also weighed in on the company. Royal Bank Of Canada upped their target price on Apellis Pharmaceuticals from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. Robert W. Baird boosted their price target on shares of Apellis Pharmaceuticals from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. The Goldman Sachs Group downgraded shares of Apellis Pharmaceuticals from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $26.00 to $18.00 in a report on Friday, September 26th. TD Cowen dropped their price objective on shares of Apellis Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, HC Wainwright decreased their price objective on Apellis Pharmaceuticals from $57.00 to $45.00 and set a “buy” rating for the company in a report on Friday, October 31st. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals presently has an average rating of “Hold” and an average price target of $33.06.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $19.26 on Wednesday. The firm has a 50 day moving average of $24.73 and a 200-day moving average of $21.75. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 62.13 and a beta of 0.70. The company has a quick ratio of 3.16, a current ratio of 3.54 and a debt-to-equity ratio of 0.90. Apellis Pharmaceuticals has a 52 week low of $16.10 and a 52 week high of $35.72.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Thursday, October 30th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.64. The business had revenue of $458.58 million for the quarter, compared to analyst estimates of $364.58 million. Apellis Pharmaceuticals had a net margin of 4.43% and a return on equity of 18.94%. Apellis Pharmaceuticals’s revenue was up 133.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.46) earnings per share. On average, equities analysts forecast that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 31,092 shares of the business’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $23.72, for a total value of $737,502.24. Following the transaction, the director owned 3,837 shares of the company’s stock, valued at approximately $91,013.64. The trade was a 89.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy Eugene Sullivan sold 10,000 shares of Apellis Pharmaceuticals stock in a transaction on Tuesday, October 21st. The stock was sold at an average price of $28.03, for a total value of $280,300.00. Following the sale, the chief financial officer owned 110,936 shares in the company, valued at $3,109,536.08. The trade was a 8.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 312,921 shares of company stock valued at $8,490,866. 6.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Readystate Asset Management LP bought a new position in shares of Apellis Pharmaceuticals in the third quarter worth $5,476,000. GSA Capital Partners LLP bought a new position in shares of Apellis Pharmaceuticals in the third quarter worth approximately $712,000. ING Groep NV increased its holdings in shares of Apellis Pharmaceuticals by 281.0% in the 3rd quarter. ING Groep NV now owns 1,174,500 shares of the company’s stock worth $26,579,000 after buying an additional 866,200 shares during the last quarter. Profund Advisors LLC raised its position in Apellis Pharmaceuticals by 21.0% during the third quarter. Profund Advisors LLC now owns 34,712 shares of the company’s stock valued at $786,000 after purchasing an additional 6,036 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new position in shares of Apellis Pharmaceuticals during the 3rd quarter valued at about $385,000. 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).