Apellis Pharmaceuticals (APLS) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of Apellis Pharmaceuticals (NASDAQ:APLS) from a hold rating to a sell rating in a report issued on Friday.
According to Zacks, “Apellis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It focused on the development of novel therapeutic compounds to treat disease through the inhibition of the complement system, which is an integral component of the immune system, at the level of C3, the central protein in the complement cascade. Apellis Pharmaceuticals, Inc. is based in CRESTWOOD, United States. “
APLS has been the subject of several other reports. Cantor Fitzgerald set a $53.00 target price on Apellis Pharmaceuticals and gave the stock a buy rating in a report on Monday, October 1st. B. Riley boosted their target price on Apellis Pharmaceuticals from $27.00 to $40.00 and gave the stock a buy rating in a report on Thursday, September 13th. JPMorgan Chase & Co. reduced their target price on Apellis Pharmaceuticals from $38.00 to $34.00 and set an overweight rating for the company in a report on Wednesday, November 14th. ValuEngine upgraded Apellis Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, November 1st. Finally, Cowen restated a buy rating and issued a $40.00 target price on shares of Apellis Pharmaceuticals in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $35.83.
Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Tuesday, November 13th. The company reported ($0.64) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.05. On average, analysts predict that Apellis Pharmaceuticals will post -2.21 EPS for the current fiscal year.
In other Apellis Pharmaceuticals news, major shareholder Morningside Venture Investment purchased 81,323 shares of the business’s stock in a transaction dated Friday, September 21st. The stock was bought at an average cost of $19.48 per share, for a total transaction of $1,584,172.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel David O. Watson sold 15,776 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $18.78, for a total value of $296,273.28. The disclosure for this sale can be found here. 9.30% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Opaleye Management Inc. acquired a new position in shares of Apellis Pharmaceuticals during the second quarter worth approximately $5,830,000. Rhumbline Advisers lifted its holdings in shares of Apellis Pharmaceuticals by 264.8% during the second quarter. Rhumbline Advisers now owns 33,952 shares of the company’s stock worth $747,000 after buying an additional 24,645 shares during the last quarter. BlackRock Inc. raised its stake in shares of Apellis Pharmaceuticals by 152.9% in the second quarter. BlackRock Inc. now owns 2,798,968 shares of the company’s stock valued at $61,578,000 after purchasing an additional 1,692,121 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Apellis Pharmaceuticals by 150.2% in the second quarter. Victory Capital Management Inc. now owns 932,753 shares of the company’s stock valued at $20,520,000 after purchasing an additional 559,913 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Apellis Pharmaceuticals by 50.5% in the second quarter. Jennison Associates LLC now owns 570,464 shares of the company’s stock valued at $12,550,000 after purchasing an additional 191,313 shares in the last quarter. Institutional investors own 57.70% 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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