Wells Fargo & Company Issues Pessimistic Forecast for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target cut by Wells Fargo & Company from $43.00 to $30.00 in a report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

APLS has been the topic of a number of other research reports. HC Wainwright cut their price objective on shares of Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday. Oppenheimer cut their price target on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday. Piper Sandler decreased their price objective on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday. William Blair began coverage on Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They set an “outperform” rating on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $25.00 price target on shares of Apellis Pharmaceuticals in a research note on Monday. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $53.24.

Apellis Pharmaceuticals Trading Up 2.7 %

Shares of APLS stock opened at $28.83 on Wednesday. Apellis Pharmaceuticals has a fifty-two week low of $24.34 and a fifty-two week high of $73.80. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. The stock has a 50 day simple moving average of $31.39 and a two-hundred day simple moving average of $37.20. The company has a market cap of $3.51 billion, a P/E ratio of -10.52 and a beta of 0.87.

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

Insider Activity

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction dated 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 transaction, the director now owns 100,000 shares in the company, valued at approximately $3,623,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its stake 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 purchasing an additional 1,409,707 shares during the last quarter. Iron Triangle Partners LP purchased a new position in shares of Apellis Pharmaceuticals during the 1st quarter valued at $32,329,000. Fiera Capital Corp grew its stake in shares of Apellis Pharmaceuticals by 47.7% during the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock worth $53,750,000 after acquiring an additional 452,753 shares during the period. AQR Capital Management LLC increased its holdings in Apellis Pharmaceuticals by 337.3% in the 2nd quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock worth $9,177,000 after acquiring an additional 190,420 shares during the last quarter. Finally, Redmile Group LLC purchased a new stake in Apellis Pharmaceuticals in the 1st quarter worth about $9,111,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About Apellis Pharmaceuticals

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).