Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Receives Average Recommendation of “Hold” from Brokerages

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) have received an average recommendation of “Hold” from the twenty-one research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $33.00.

A number of brokerages have weighed in on APLS. JPMorgan Chase & Co. lowered their price target on Apellis Pharmaceuticals from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Citigroup cut their price objective on shares of Apellis Pharmaceuticals from $52.00 to $45.00 and set a “buy” rating for the company in a report on Friday, October 31st. Wolfe Research began coverage on Apellis Pharmaceuticals in a report on Thursday, November 6th. They set a “peer perform” rating on the stock. Wall Street Zen raised Apellis Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Bank of America raised Apellis Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, January 21st.

Insider Buying and Selling

In related news, insider Mark Jeffrey Delong sold 3,371 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $21.77, for a total transaction of $73,386.67. Following the completion of the transaction, the insider directly owned 78,353 shares in the company, valued at $1,705,744.81. This represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Caroline Baumal sold 2,797 shares of the business’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total transaction of $60,890.69. Following the sale, the insider directly owned 86,527 shares in the company, valued at approximately $1,883,692.79. The trade was a 3.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 120,537 shares of company stock worth $2,608,532 in the last quarter. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Apellis Pharmaceuticals by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 10,674,865 shares of the company’s stock worth $268,153,000 after acquiring an additional 687,471 shares during the last quarter. Deep Track Capital LP grew its stake in shares of Apellis Pharmaceuticals by 14.3% in the third quarter. Deep Track Capital LP now owns 8,000,382 shares of the company’s stock worth $181,049,000 after purchasing an additional 1,000,382 shares during the last quarter. RTW Investments LP acquired a new stake in Apellis Pharmaceuticals in the fourth quarter valued at $192,589,000. AQR Capital Management LLC raised its position in Apellis Pharmaceuticals by 46.6% during the 2nd quarter. AQR Capital Management LLC now owns 5,976,414 shares of the company’s stock worth $103,452,000 after purchasing an additional 1,898,995 shares during the last quarter. Finally, State Street Corp lifted its holdings in Apellis Pharmaceuticals by 14.3% during the 4th quarter. State Street Corp now owns 4,613,446 shares of the company’s stock worth $115,890,000 after buying an additional 575,802 shares during the period. Institutional investors own 96.29% of the company’s stock.

Apellis Pharmaceuticals Price Performance

NASDAQ APLS opened at $22.47 on Thursday. The firm’s 50 day moving average is $23.27 and its 200-day moving average is $23.86. The company has a quick ratio of 3.10, a current ratio of 3.54 and a debt-to-equity ratio of 0.90. Apellis Pharmaceuticals has a 12-month low of $16.10 and a 12-month high of $30.48. The company has a market capitalization of $2.84 billion, a PE ratio of 72.49 and a beta of 0.26.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.