Apellis Pharmaceuticals (NASDAQ:APLS) Given New $72.00 Price Target at Citigroup

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective lifted by Citigroup from $65.00 to $72.00 in a research note issued to investors on Wednesday morning, Analyst Price Targets reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the company. Robert W. Baird boosted their price objective on Apellis Pharmaceuticals from $75.00 to $80.00 and gave the company an outperform rating in a report on Monday, September 13th. Jefferies Financial Group assumed coverage on Apellis Pharmaceuticals in a report on Thursday, August 19th. They issued a buy rating and a $74.00 price objective for the company. Wedbush decreased their target price on Apellis Pharmaceuticals from $34.00 to $28.00 and set a neutral rating for the company in a research note on Tuesday, November 9th. Raymond James lifted their target price on Apellis Pharmaceuticals from $102.00 to $116.00 and gave the company a strong-buy rating in a research note on Tuesday, November 9th. Finally, Roth Capital decreased their target price on Apellis Pharmaceuticals from $80.00 to $46.00 and set a buy rating for the company in a research note on Friday, September 10th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Buy and an average price target of $74.36.

Shares of Apellis Pharmaceuticals stock opened at $45.01 on Wednesday. The company has a quick ratio of 5.03, a current ratio of 5.05 and a debt-to-equity ratio of 7.48. The firm has a market cap of $3.93 billion, a P/E ratio of -7.04 and a beta of 1.63. Apellis Pharmaceuticals has a fifty-two week low of $27.50 and a fifty-two week high of $73.00. The business has a 50-day moving average price of $35.41 and a 200 day moving average price of $50.79.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data on Monday, November 8th. The company reported ($2.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.73) by ($0.55). During the same quarter in the previous year, the company earned ($1.79) earnings per share. As a group, equities research analysts anticipate that Apellis Pharmaceuticals will post -8.42 earnings per share for the current year.

In related news, major shareholder Morningside Venture Investment purchased 250,000 shares of the company’s stock in a transaction on Thursday, November 18th. The shares were bought at an average price of $40.00 per share, with a total value of $10,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Federico Grossi sold 750 shares of the company’s stock in a transaction on Thursday, October 14th. The shares were sold at an average price of $34.57, for a total value of $25,927.50. The disclosure for this sale can be found here. Insiders own 9.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co NY increased its holdings in shares of Apellis Pharmaceuticals by 1.7% in the third quarter. Metropolitan Life Insurance Co NY now owns 17,657 shares of the company’s stock valued at $582,000 after buying an additional 291 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of Apellis Pharmaceuticals by 4.6% in the third quarter. MML Investors Services LLC now owns 7,970 shares of the company’s stock valued at $263,000 after buying an additional 354 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in Apellis Pharmaceuticals during the 2nd quarter valued at $30,000. Swiss National Bank raised its stake in Apellis Pharmaceuticals by 0.4% during the 3rd quarter. Swiss National Bank now owns 133,400 shares of the company’s stock valued at $4,397,000 after purchasing an additional 500 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in Apellis Pharmaceuticals by 21.7% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 3,006 shares of the company’s stock valued at $99,000 after purchasing an additional 537 shares during the period. 74.33% of the stock is currently owned by institutional investors.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which develops novel therapeutic compounds. It develops complement immunotherapies for the treatment of complement-dependent autoimmune and inflammatory diseases through APL-2 product. The company was founded by Candace Rose Depp, Pascal Deschatelets, Cedric Francois, Alec Machiels on September 25, 2009 and is headquartered in Waltham, MA.

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Analyst Recommendations for Apellis Pharmaceuticals (NASDAQ:APLS)

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