Apellis Pharmaceuticals (NASDAQ:APLS) Rating Reiterated by Needham & Company LLC

Apellis Pharmaceuticals (NASDAQ:APLS)‘s stock had its “buy” rating restated by Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $85.00 target price on the stock. Needham & Company LLC’s price objective points to a potential upside of 49.54% from the company’s previous close.

APLS has been the topic of a number of other research reports. Jefferies Financial Group upgraded shares of Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $80.00 in a research report on Monday, February 5th. Oppenheimer boosted their target price on shares of Apellis Pharmaceuticals from $75.00 to $79.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. UBS Group boosted their target price on shares of Apellis Pharmaceuticals from $87.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Mizuho reissued a “neutral” rating and set a $60.00 target price on shares of Apellis Pharmaceuticals in a research note on Wednesday, March 27th. Finally, The Goldman Sachs Group boosted their target price on shares of Apellis Pharmaceuticals from $65.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.60.

Apellis Pharmaceuticals Trading Up 3.1 %

Shares of APLS opened at $56.84 on Tuesday. The company’s fifty day moving average is $61.90 and its 200 day moving average is $56.64. Apellis Pharmaceuticals has a fifty-two week low of $19.83 and a fifty-two week high of $94.75. The stock has a market capitalization of $6.85 billion, a PE ratio of -12.69 and a beta of 0.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.50 and a current ratio of 3.10.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($0.73) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.73). Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The business had revenue of $146.38 million for the quarter, compared to analysts’ expectations of $143.34 million. During the same quarter in the previous year, the business posted ($1.50) earnings per share. The business’s revenue was up 545.9% compared to the same quarter last year. Sell-side analysts expect that Apellis Pharmaceuticals will post -1.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, CFO Timothy Eugene Sullivan sold 2,235 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $66.81, for a total transaction of $149,320.35. Following the completion of the sale, the chief financial officer now directly owns 99,226 shares of the company’s stock, valued at $6,629,289.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Apellis Pharmaceuticals news, insider Jeffrey Eisele sold 438 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $66.81, for a total transaction of $29,262.78. Following the completion of the sale, the insider now directly owns 72,650 shares of the company’s stock, valued at $4,853,746.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy Eugene Sullivan sold 2,235 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $66.81, for a total transaction of $149,320.35. Following the sale, the chief financial officer now directly owns 99,226 shares of the company’s stock, valued at $6,629,289.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 422,279 shares of company stock valued at $26,174,364. 7.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several hedge funds have recently modified their holdings of APLS. Bank of New York Mellon Corp increased its holdings in shares of Apellis Pharmaceuticals by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 315,480 shares of the company’s stock valued at $16,029,000 after acquiring an additional 17,287 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Apellis Pharmaceuticals during the first quarter valued at about $820,000. US Bancorp DE increased its holdings in shares of Apellis Pharmaceuticals by 391.2% during the first quarter. US Bancorp DE now owns 1,110 shares of the company’s stock valued at $56,000 after acquiring an additional 884 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Apellis Pharmaceuticals by 67.0% during the first quarter. MetLife Investment Management LLC now owns 41,293 shares of the company’s stock valued at $2,098,000 after acquiring an additional 16,567 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Apellis Pharmaceuticals by 5.2% during the first quarter. Rhumbline Advisers now owns 77,764 shares of the company’s stock valued at $3,951,000 after acquiring an additional 3,835 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Apellis Pharmaceuticals Company Profile

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).