Apellis Pharmaceuticals (NASDAQ:APLS) had its target price hoisted by stock analysts at B. Riley from $27.00 to $40.00 in a research report issued on Thursday, Stock Target Advisor reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 116.10% from the company’s previous close.

Other analysts also recently issued research reports about the company. Cowen reissued a “buy” rating and set a $40.00 target price on shares of Apellis Pharmaceuticals in a research note on Wednesday, August 1st. Cantor Fitzgerald set a $52.00 price target on Apellis Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, Zacks Investment Research upgraded Apellis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, June 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $36.00.

Shares of APLS opened at $18.51 on Thursday. Apellis Pharmaceuticals has a 12-month low of $12.45 and a 12-month high of $32.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 26.02 and a current ratio of 26.02.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Tuesday, July 31st. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.14). analysts forecast that Apellis Pharmaceuticals will post -2.2 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in Apellis Pharmaceuticals by 264.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 127,167 shares of the company’s stock valued at $2,798,000 after buying an additional 92,280 shares in the last quarter. California Public Employees Retirement System purchased a new position in Apellis Pharmaceuticals during the 2nd quarter valued at approximately $1,032,000. Millennium Management LLC purchased a new position in Apellis Pharmaceuticals during the 2nd quarter valued at approximately $19,656,000. Acuta Capital Partners LLC purchased a new position in Apellis Pharmaceuticals during the 2nd quarter valued at approximately $3,696,000. Finally, Opaleye Management Inc. purchased a new position in Apellis Pharmaceuticals during the 2nd quarter valued at approximately $5,830,000. Institutional investors and hedge funds own 57.54% of the company’s stock.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapeutic compounds for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 to treat geographic atrophy, wet age-related macular degeneration, paroxysmal nocturnal hemoglobinuria, autoimmune hemolytic anemia, and nephrology.

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Analyst Recommendations for Apellis Pharmaceuticals (NASDAQ:APLS)

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