UBS Group Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $85.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective reduced by UBS Group from $89.00 to $85.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 101.14% from the company’s previous close.

APLS has been the subject of a number of other research reports. Raymond James raised their price objective on shares of Apellis Pharmaceuticals from $67.00 to $106.00 and gave the company a “strong-buy” rating in a report on Thursday, January 11th. Robert W. Baird reissued an “outperform” rating and issued a $81.00 price objective on shares of Apellis Pharmaceuticals in a research note on Tuesday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $92.00 price target on shares of Apellis Pharmaceuticals in a research report on Friday, April 26th. Finally, Wedbush cut their price objective on Apellis Pharmaceuticals from $67.00 to $57.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $77.13.

Apellis Pharmaceuticals Stock Down 3.7 %

APLS stock traded down $1.64 during mid-day trading on Wednesday, reaching $42.26. The company had a trading volume of 123,987 shares, compared to its average volume of 1,556,393. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of -9.43 and a beta of 0.97. Apellis Pharmaceuticals has a 52 week low of $19.83 and a 52 week high of $94.75. The stock has a 50 day simple moving average of $54.74 and a two-hundred day simple moving average of $57.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.10 and a quick ratio of 2.50.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.54). Apellis Pharmaceuticals had a negative return on equity of 178.60% and a negative net margin of 133.34%. The company had revenue of $172.33 million during the quarter, compared to analysts’ expectations of $163.37 million. During the same period last year, the firm posted ($1.56) earnings per share. The business’s revenue was up 284.3% on a year-over-year basis. As a group, equities analysts predict that Apellis Pharmaceuticals will post -1.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 18,681 shares of Apellis Pharmaceuticals stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $57.18, for a total transaction of $1,068,179.58. Following the completion of the transaction, the director now directly owns 173,998 shares in the company, valued at $9,949,205.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director A. Sinclair Dunlop sold 18,681 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $57.18, for a total value of $1,068,179.58. Following the transaction, the director now owns 173,998 shares in the company, valued at $9,949,205.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam J. Townsend sold 1,148 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $67.77, for a total value of $77,799.96. Following the transaction, the insider now directly owns 92,453 shares in the company, valued at approximately $6,265,539.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 376,427 shares of company stock worth $23,169,639. 7.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wynnefield Capital Inc. purchased a new position in shares of Apellis Pharmaceuticals in the 3rd quarter worth approximately $380,000. abrdn plc bought a new position in Apellis Pharmaceuticals in the 4th quarter valued at $10,119,000. General American Investors Co. Inc. purchased a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter valued at $1,712,000. Profund Advisors LLC increased its position in shares of Apellis Pharmaceuticals by 114.5% during the 3rd quarter. Profund Advisors LLC now owns 35,153 shares of the company’s stock valued at $1,337,000 after purchasing an additional 18,766 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Apellis Pharmaceuticals by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 879,357 shares of the company’s stock worth $33,451,000 after purchasing an additional 50,835 shares during the period. 96.29% of the stock is currently owned by hedge funds and other institutional investors.

About Apellis Pharmaceuticals

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).