Apellis Pharmaceuticals (NASDAQ:APLS) Given New $37.00 Price Target at JPMorgan Chase & Co.

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target upped by JPMorgan Chase & Co. from $36.00 to $37.00 in a research note released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

APLS has been the subject of several other research reports. William Blair reaffirmed an “outperform” rating on shares of Apellis Pharmaceuticals in a research note on Monday, December 15th. Wall Street Zen downgraded shares of Apellis Pharmaceuticals from a “buy” rating to a “sell” rating in a research report on Saturday, February 28th. Wells Fargo & Company reduced their price target on Apellis Pharmaceuticals from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Mizuho upped their price target on Apellis Pharmaceuticals from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Wedbush cut their price objective on Apellis Pharmaceuticals from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.72.

Apellis Pharmaceuticals Trading Up 1.5%

Shares of NASDAQ APLS opened at $20.15 on Thursday. The business has a 50 day simple moving average of $22.60 and a 200 day simple moving average of $23.62. Apellis Pharmaceuticals has a 52 week low of $16.10 and a 52 week high of $30.48. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 155.01 and a beta of 0.26. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.70 and a current ratio of 3.14.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Tuesday, February 24th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.86. The firm had revenue of $199.91 million during the quarter, compared to analysts’ expectations of $199.28 million. Apellis Pharmaceuticals had a net margin of 2.23% and a return on equity of 8.20%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.29) earnings per share. On average, research analysts predict that Apellis Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Activity

In other Apellis Pharmaceuticals news, insider Mark Jeffrey Delong sold 3,371 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total value of $73,386.67. Following the transaction, the insider directly owned 78,353 shares of the company’s stock, valued at $1,705,744.81. The trade was a 4.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Caroline Baumal sold 2,797 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total value of $60,890.69. Following the transaction, the insider owned 86,527 shares of the company’s stock, valued at approximately $1,883,692.79. This trade represents a 3.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 120,537 shares of company stock worth $2,608,532 over the last 90 days. Company insiders own 6.50% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp increased its holdings in shares of Apellis Pharmaceuticals by 206.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,037 shares of the company’s stock worth $46,000 after purchasing an additional 1,373 shares during the period. Osaic Holdings Inc. grew its position in Apellis Pharmaceuticals by 141.2% during the second quarter. Osaic Holdings Inc. now owns 2,682 shares of the company’s stock worth $47,000 after buying an additional 1,570 shares in the last quarter. Allworth Financial LP grew its position in Apellis Pharmaceuticals by 64.1% during the third quarter. Allworth Financial LP now owns 2,194 shares of the company’s stock worth $50,000 after buying an additional 857 shares in the last quarter. Quantbot Technologies LP bought a new position in Apellis Pharmaceuticals during the third quarter valued at about $64,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Apellis Pharmaceuticals by 338.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,429 shares of the company’s stock valued at $94,000 after acquiring an additional 4,191 shares in the last quarter. 96.29% of the stock is owned by institutional investors.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.