Apellis Pharmaceuticals (NASDAQ:APLS) Reaches New 52-Week High – Here’s What Happened

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) shares hit a new 52-week high on Wednesday . The company traded as high as $41.05 and last traded at $40.9750, with a volume of 250063 shares changing hands. The stock had previously closed at $40.97.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Apellis Pharmaceuticals from $24.00 to $41.00 and gave the company an “equal weight” rating in a report on Wednesday, April 1st. Citigroup restated a “neutral” rating and set a $41.00 target price (down from $44.00) on shares of Apellis Pharmaceuticals in a research report on Wednesday, April 1st. Royal Bank Of Canada decreased their target price on shares of Apellis Pharmaceuticals from $22.00 to $21.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 25th. Jefferies Financial Group downgraded shares of Apellis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $41.00 target price (up from $37.00) on shares of Apellis Pharmaceuticals in a research report on Wednesday, April 1st. Three research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $34.89.

Apellis Pharmaceuticals Stock Up 0.0%

The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 315.29 and a beta of -0.24. The business’s 50-day moving average is $29.59 and its 200-day moving average is $25.35. The company has a quick ratio of 2.70, a current ratio of 3.14 and a debt-to-equity ratio of 0.98.

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 company had revenue of $199.91 million during the quarter, compared to the consensus estimate of $199.28 million. Apellis Pharmaceuticals had a net margin of 2.23% and a return on equity of 8.20%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.29) earnings per share. As a group, equities analysts predict that Apellis Pharmaceuticals, Inc. will post -1.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wedmont Private Capital raised its position in shares of Apellis Pharmaceuticals by 4.1% in the fourth quarter. Wedmont Private Capital now owns 11,883 shares of the company’s stock worth $315,000 after acquiring an additional 468 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Apellis Pharmaceuticals by 0.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 96,125 shares of the company’s stock worth $2,415,000 after acquiring an additional 530 shares during the period. Amalgamated Bank raised its position in shares of Apellis Pharmaceuticals by 6.9% in the third quarter. Amalgamated Bank now owns 8,674 shares of the company’s stock worth $196,000 after acquiring an additional 563 shares during the period. Xponance LLC raised its position in shares of Apellis Pharmaceuticals by 3.9% in the fourth quarter. Xponance LLC now owns 18,164 shares of the company’s stock worth $456,000 after acquiring an additional 681 shares during the period. Finally, Allworth Financial LP raised its position in shares of Apellis Pharmaceuticals by 64.1% in the third quarter. Allworth Financial LP now owns 2,194 shares of the company’s stock worth $50,000 after acquiring an additional 857 shares during the period. Institutional investors and hedge funds own 96.29% of the company’s stock.

About Apellis Pharmaceuticals

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.