Bank of America started coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research report report published on Thursday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $36.00 price objective on the stock.
APLS has been the subject of several other research reports. Cantor Fitzgerald reissued an overweight rating and set a $54.00 price target (up previously from $50.00) on shares of Apellis Pharmaceuticals in a report on Monday, November 25th. Credit Suisse Group initiated coverage on Apellis Pharmaceuticals in a research note on Tuesday, November 5th. They issued a neutral rating and a $33.00 price objective on the stock. ValuEngine cut Apellis Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded Apellis Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, December 18th. Finally, Wedbush started coverage on shares of Apellis Pharmaceuticals in a report on Wednesday, November 27th. They issued an underperform rating and a $23.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $41.33.
Shares of Apellis Pharmaceuticals stock opened at $29.92 on Thursday. Apellis Pharmaceuticals has a 1-year low of $12.16 and a 1-year high of $33.18. The company’s fifty day simple moving average is $28.08 and its 200-day simple moving average is $26.79. The company has a debt-to-equity ratio of 1.09, a current ratio of 10.12 and a quick ratio of 10.12. The stock has a market capitalization of $1.87 billion, a PE ratio of -12.79 and a beta of 0.64.
In related news, CEO Cedric Francois sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $27.82, for a total value of $139,100.00. Also, COO Pascal Deschatelets sold 42,460 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $24.82, for a total value of $1,053,857.20. Insiders sold a total of 52,460 shares of company stock valued at $1,332,007 in the last ninety days. 10.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in APLS. Jennison Associates LLC lifted its holdings in shares of Apellis Pharmaceuticals by 57.2% in the second quarter. Jennison Associates LLC now owns 923,244 shares of the company’s stock worth $23,395,000 after buying an additional 335,863 shares in the last quarter. Eversept Partners LP increased its holdings in Apellis Pharmaceuticals by 12.4% in the 2nd quarter. Eversept Partners LP now owns 117,309 shares of the company’s stock valued at $2,973,000 after acquiring an additional 12,960 shares during the last quarter. Endurant Capital Management LP purchased a new stake in Apellis Pharmaceuticals in the 3rd quarter worth $537,000. Tower Research Capital LLC TRC lifted its stake in Apellis Pharmaceuticals by 238.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,175 shares of the company’s stock worth $124,000 after purchasing an additional 3,648 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Apellis Pharmaceuticals in the 3rd quarter worth $1,585,000. 63.84% of the stock is owned by institutional investors and hedge funds.
Apellis Pharmaceuticals Company Profile
Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 that is in Phase III clinical trials for the treatment of geographic atrophy in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria diseases; and in Phase II clinical trials for the treatment of cold agglutinin and warm antibody autoimmune hemolytic anemia diseases, as well as in Phase II clinical trials to treat four types of glomerular diseases, such as C3 glomerulopathy, IgA nephropathy, primary membranous nephropathy, and lupus nephritis.
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