Needham & Company LLC Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $29.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target decreased by investment analysts at Needham & Company LLC from $40.00 to $29.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 62.17% from the company’s current price.

APLS has been the subject of several other reports. Scotiabank increased their target price on shares of Apellis Pharmaceuticals from $30.00 to $31.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 2nd. Wedbush lowered their price objective on Apellis Pharmaceuticals from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group reduced their price objective on Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Royal Bank of Canada reduced their price objective on shares of Apellis Pharmaceuticals from $24.00 to $21.00 and set a “sector perform” rating for the company in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.11.

Apellis Pharmaceuticals Stock Down 0.6 %

Shares of NASDAQ APLS opened at $17.88 on Wednesday. The stock has a fifty day moving average price of $21.43 and a 200 day moving average price of $27.19. Apellis Pharmaceuticals has a 12-month low of $16.65 and a 12-month high of $43.99. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. The company has a market cap of $2.25 billion, a P/E ratio of -8.81 and a beta of 0.73.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.38). The firm had revenue of $149.90 million for the quarter, compared to the consensus estimate of $197.61 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.54) earnings per share. Research analysts anticipate that Apellis Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel David O. Watson sold 5,569 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $25.10, for a total value of $139,781.90. Following the sale, the general counsel now directly owns 138,730 shares in the company, valued at $3,482,123. This represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 6,115 shares of company stock worth $154,684 in the last 90 days. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its holdings in shares of Apellis Pharmaceuticals by 2,707.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after buying an additional 758 shares during the last quarter. Assetmark Inc. increased its stake in shares of Apellis Pharmaceuticals by 3,938.7% during the 1st quarter. Assetmark Inc. now owns 1,252 shares of the company’s stock worth $27,000 after purchasing an additional 1,221 shares during the last quarter. Signaturefd LLC grew its stake in shares of Apellis Pharmaceuticals by 357.2% during the 4th quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock worth $37,000 after acquiring an additional 918 shares during the period. GF Fund Management CO. LTD. boosted its position in Apellis Pharmaceuticals by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 3,185 shares of the company’s stock worth $70,000 after purchasing an additional 573 shares during the period. Finally, US Bancorp DE raised its position in shares of Apellis Pharmaceuticals by 70.0% in the fourth quarter. US Bancorp DE now owns 3,223 shares of the company’s stock valued at $103,000 after purchasing an additional 1,327 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

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).