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

Needham & Company LLC restated their buy rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a report published on Friday morning, Benzinga reports. Needham & Company LLC currently has a $85.00 price objective on the stock.

Other research analysts have also recently issued reports about the company. HC Wainwright lowered their target price on Apellis Pharmaceuticals from $92.00 to $83.00 and set a buy rating for the company in a research note on Friday, August 2nd. Wedbush lifted their price objective on Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a neutral rating in a report on Friday, August 9th. The Goldman Sachs Group boosted their target price on Apellis Pharmaceuticals from $66.00 to $74.00 and gave the stock a buy rating in a research report on Friday, August 9th. Piper Sandler began coverage on Apellis Pharmaceuticals in a report on Friday, May 31st. They issued a neutral rating and a $46.00 price target for the company. Finally, Wells Fargo & Company dropped their price objective on Apellis Pharmaceuticals from $57.00 to $48.00 and set an equal weight rating on the stock in a report on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $70.53.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS opened at $32.72 on Friday. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of -9.46 and a beta of 0.88. The company has a 50 day simple moving average of $37.72 and a two-hundred day simple moving average of $43.32. The company has a current ratio of 5.08, a quick ratio of 4.18 and a debt-to-equity ratio of 1.73. Apellis Pharmaceuticals has a 12 month low of $31.00 and a 12 month high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The company had revenue of $199.70 million during the quarter, compared to the consensus estimate of $190.89 million. During the same quarter in the prior year, the firm earned ($1.02) EPS. Apellis Pharmaceuticals’s quarterly revenue was up 110.2% on a year-over-year basis. As a group, analysts predict that Apellis Pharmaceuticals will post -1.29 earnings per share for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the completion of the sale, the director now owns 100,000 shares of the company’s stock, valued at $3,623,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of APLS. Future Financial Wealth Managment LLC acquired a new stake in shares of Apellis Pharmaceuticals during the 1st quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Apellis Pharmaceuticals during the first quarter valued at approximately $89,000. nVerses Capital LLC lifted its position in Apellis Pharmaceuticals by 300.0% in the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after purchasing an additional 2,100 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of Apellis Pharmaceuticals in the 4th quarter worth $205,000. Finally, Woodward Diversified Capital LLC acquired a new stake in shares of Apellis Pharmaceuticals in the fourth quarter valued at $210,000. Institutional investors 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).