Mizuho Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $52.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective trimmed by Mizuho from $60.00 to $52.00 in a report published on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages also recently issued reports on APLS. Wedbush reduced their price objective on shares of Apellis Pharmaceuticals from $67.00 to $57.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. Jefferies Financial Group upgraded shares of Apellis Pharmaceuticals from a hold rating to a buy rating and increased their price objective for the stock from $68.00 to $80.00 in a research note on Monday, February 5th. JPMorgan Chase & Co. increased their price objective on shares of Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an overweight rating in a research note on Wednesday, March 6th. The Goldman Sachs Group increased their price objective on shares of Apellis Pharmaceuticals from $65.00 to $90.00 and gave the stock a buy rating in a research note on Tuesday, January 9th. Finally, Oppenheimer increased their price objective on shares of Apellis Pharmaceuticals from $75.00 to $79.00 and gave the stock an outperform rating in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $77.40.

Apellis Pharmaceuticals Trading Up 4.2 %

APLS stock opened at $46.05 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.50 and a current ratio of 3.10. The company’s 50-day simple moving average is $56.53 and its 200 day simple moving average is $57.45. Apellis Pharmaceuticals has a 52 week low of $19.83 and a 52 week high of $94.75. The company has a market capitalization of $5.59 billion, a PE ratio of -10.28 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.73) EPS for the quarter, meeting the consensus estimate of ($0.73). Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The business had revenue of $146.38 million for the quarter, compared to the consensus estimate of $143.34 million. During the same period in the prior year, the company posted ($1.50) earnings per share. Apellis Pharmaceuticals’s revenue was up 545.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.34 earnings per share for the current year.

Insider Activity at Apellis Pharmaceuticals

In related news, CEO Cedric Francois sold 3,962 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $67.77, for a total value of $268,504.74. Following the completion of the transaction, the chief executive officer now owns 313,662 shares in the company, valued at approximately $21,256,873.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Apellis Pharmaceuticals news, CEO Cedric Francois sold 3,962 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $67.77, for a total transaction of $268,504.74. Following the completion of the sale, the chief executive officer now owns 313,662 shares of the company’s stock, valued at approximately $21,256,873.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pascal Deschatelets sold 69,107 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the sale, the insider now directly owns 1,115,983 shares of the company’s stock, valued at approximately $60,452,799.11. The disclosure for this sale can be found here. Insiders sold a total of 376,427 shares of company stock worth $23,169,639 in the last quarter. 7.50% of the stock is owned by insiders.

Institutional Trading of Apellis Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLS. Commonwealth Equity Services LLC increased its position in Apellis Pharmaceuticals by 48.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 6,922 shares of the company’s stock valued at $263,000 after purchasing an additional 2,263 shares during the period. Sippican Capital Advisors grew its position in shares of Apellis Pharmaceuticals by 77.8% during the 3rd quarter. Sippican Capital Advisors now owns 15,834 shares of the company’s stock worth $602,000 after buying an additional 6,930 shares during the period. Bank of New York Mellon Corp grew its position in shares of Apellis Pharmaceuticals by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 360,287 shares of the company’s stock worth $13,705,000 after buying an additional 2,998 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Apellis Pharmaceuticals by 10.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,021 shares of the company’s stock worth $533,000 after buying an additional 1,310 shares during the period. Finally, Stephens Consulting LLC acquired a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds 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).