B. Riley initiated coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research report issued on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $27.00 price target on the stock. B. Riley’s target price points to a potential upside of 92.72% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Evercore ISI assumed coverage on Apellis Pharmaceuticals in a report on Monday, December 4th. They issued an “outperform” rating for the company. Citigroup assumed coverage on Apellis Pharmaceuticals in a report on Monday, December 4th. They issued a “buy” rating and a $23.00 price target for the company. Finally, JPMorgan Chase & Co. assumed coverage on Apellis Pharmaceuticals in a report on Monday, December 4th. They issued an “overweight” rating and a $31.00 price target for the company.

Shares of Apellis Pharmaceuticals (APLS) opened at $14.01 on Thursday. Apellis Pharmaceuticals has a fifty-two week low of $12.45 and a fifty-two week high of $25.49.

In related news, major shareholder Global Strategic Fund I. Venbio purchased 127,515 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average price of $14.00 per share, with a total value of $1,785,210.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge funds have recently bought and sold shares of the business. Jennison Associates LLC acquired a new stake in Apellis Pharmaceuticals during the fourth quarter worth $13,170,000. NF Trinity Capital Hong Kong Ltd acquired a new stake in Apellis Pharmaceuticals during the fourth quarter worth $7,750,000. Quantitative Systematic Strategies LLC acquired a new stake in Apellis Pharmaceuticals during the fourth quarter worth $317,000. Bank of New York Mellon Corp acquired a new stake in Apellis Pharmaceuticals during the fourth quarter worth $416,000. Finally, BlackRock Inc. acquired a new stake in Apellis Pharmaceuticals during the fourth quarter worth $21,096,000. 1.29% of the stock is owned by institutional investors.

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Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company focuses on the discovery and development of therapeutic compounds for autoimmune and inflammatory diseases. The Company’s lead compounds are designed to inhibit complement component 3 (C3), the central protein in the complement cascade.

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