Apellis Pharmaceuticals (NASDAQ:APLS – Get Free Report) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Tuesday, Briefing.com reports. They currently have a $40.00 price objective on the stock, down from their prior price objective of $114.00. Bank of America‘s price target indicates a potential upside of 55.34% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. Needham & Company LLC decreased their price objective on shares of Apellis Pharmaceuticals from $110.00 to $60.00 and set a “buy” rating for the company in a report on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $82.00 target price on shares of Apellis Pharmaceuticals in a research report on Monday. JPMorgan Chase & Co. decreased their target price on shares of Apellis Pharmaceuticals from $100.00 to $72.00 in a research report on Thursday, July 20th. Oppenheimer decreased their price objective on Apellis Pharmaceuticals from $108.00 to $88.00 in a report on Monday. Finally, Robert W. Baird raised their price target on Apellis Pharmaceuticals from $105.00 to $115.00 in a report on Monday, July 17th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Apellis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.29.
Apellis Pharmaceuticals Stock Performance
Shares of APLS stock opened at $25.75 on Tuesday. The firm has a market capitalization of $3.00 billion, a P/E ratio of -4.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.88 and a quick ratio of 6.27. Apellis Pharmaceuticals has a 12 month low of $24.97 and a 12 month high of $94.75. The company’s fifty day moving average price is $77.69 and its two-hundred day moving average price is $71.67.
Insider Transactions at Apellis Pharmaceuticals
In related news, CEO Cedric Francois sold 30,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $85.66, for a total transaction of $2,569,800.00. Following the completion of the sale, the chief executive officer now directly owns 274,655 shares of the company’s stock, valued at $23,526,947.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Apellis Pharmaceuticals news, insider Adam J. Townsend sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $82.71, for a total transaction of $413,550.00. Following the sale, the insider now directly owns 75,995 shares of the company’s stock, valued at approximately $6,285,546.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Cedric Francois sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $85.66, for a total value of $2,569,800.00. Following the completion of the sale, the chief executive officer now directly owns 274,655 shares of the company’s stock, valued at approximately $23,526,947.30. The disclosure for this sale can be found here. Insiders have sold 164,818 shares of company stock valued at $14,507,167 in the last quarter. Insiders own 7.50% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the business. National Bank of Canada FI purchased a new position in Apellis Pharmaceuticals during the 2nd quarter valued at about $33,000. Raymond James Financial Services Advisors Inc. lifted its position in Apellis Pharmaceuticals by 14.2% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,036 shares of the company’s stock worth $1,188,000 after buying an additional 1,624 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Apellis Pharmaceuticals during the 2nd quarter valued at $210,000. PAX Financial Group LLC grew its holdings in shares of Apellis Pharmaceuticals by 17.2% during the 2nd quarter. PAX Financial Group LLC now owns 9,591 shares of the company’s stock valued at $874,000 after acquiring an additional 1,409 shares in the last quarter. Finally, WCM Investment Management LLC acquired a new position in shares of Apellis Pharmaceuticals in the second quarter worth $5,381,000. 93.72% of the stock is owned by institutional investors and hedge funds.
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, cold agglutinin disease, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, amyotrophic lateral sclerosis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy (GA).
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