Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $51.00 by Analysts at Citigroup

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price dropped by research analysts at Citigroup from $63.00 to $51.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 80.98% from the stock’s current price.

APLS has been the topic of several other reports. Mizuho cut their price objective on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Robert W. Baird cut their price target on Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. Jefferies Financial Group restated a “buy” rating and set a $80.00 price objective on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $25.00 target price on shares of Apellis Pharmaceuticals in a research note on Monday. Finally, Wedbush increased their price target on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.24.

Apellis Pharmaceuticals Stock Up 0.4 %

Shares of APLS traded up $0.10 during midday trading on Wednesday, reaching $28.18. 1,604,849 shares of the stock were exchanged, compared to its average volume of 1,770,396. The company has a market capitalization of $3.43 billion, a P/E ratio of -10.28 and a beta of 0.87. 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 52 week low of $24.34 and a 52 week high of $73.80. The company’s 50 day moving average is $31.58 and its two-hundred day moving average is $37.26.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The business had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same quarter in the previous year, the company earned ($1.17) earnings per share. The firm’s revenue was up 78.3% on a year-over-year basis. On average, sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.4 earnings per share for the current year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the sale, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Apellis Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its holdings in Apellis Pharmaceuticals by 191.9% in the third quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock valued at $61,845,000 after acquiring an additional 1,409,707 shares during the period. Iron Triangle Partners LP purchased a new position in shares of Apellis Pharmaceuticals during the 1st quarter valued at approximately $32,329,000. Fiera Capital Corp lifted its stake in shares of Apellis Pharmaceuticals by 47.7% in the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock valued at $53,750,000 after purchasing an additional 452,753 shares during the period. AQR Capital Management LLC boosted its holdings in Apellis Pharmaceuticals by 337.3% during the second quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock worth $9,177,000 after buying an additional 190,420 shares in the last quarter. Finally, Redmile Group LLC acquired a new stake in Apellis Pharmaceuticals during the first quarter valued at $9,111,000. Hedge funds and other 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).