Apellis Pharmaceuticals (NASDAQ:APLS) traded down 4.4% after an analyst downgrade

Shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS – Get Free Report ) fell 4.4% on Monday after JPMorgan Chase & Co. cut their target price on the stock from $64.00 to $57.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Apellis Pharmaceuticals traded as high as $35.96 and last traded at $35.96. During trading, 67,189 shares were traded, down 95% from the session’s average volume of 1,475,236 shares. Shares previously closed at $37.62.

A number of other research firms have also recently commented on APLS. Jefferies Financial Group restated a “buy” rating and set a $80.00 price objective on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Robert W. Baird boosted their price target on Apellis Pharmaceuticals from $86.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. HC Wainwright cut their price target on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company dropped their target price on shares of Apellis Pharmaceuticals from $57.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $85.00 price objective on shares of Apellis Pharmaceuticals in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.67, according to MarketBeat.com.

Read the latest stock analysis on Apellis Pharmaceuticals

Insider buying and selling

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $39.24, for a total value of $1,451,880.00. Following the completion of the sale, the director now owns 136,998 shares in the company, valued at approximately $5,375,801.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. 6.80% of shares are currently owned by insiders.

Hedge funds influence Apellis Pharmaceuticals

Hedge funds have recently added to or reduced their holdings in the stock. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Apellis Pharmaceuticals in the 4th quarter valued at $281,000. Level Four Advisory Services LLC purchased a new position in Apellis Pharmaceuticals in the fourth quarter valued at about $626,000. Norges Bank bought a new stake in Apellis Pharmaceuticals in the fourth quarter valued at about $56,640,000. Assetmark Inc. raised its stake in Apellis Pharmaceuticals by 52.6% during the fourth quarter. Assetmark Inc. now owns 17,344 shares of the company’s stock worth $1,038,000 after buying an additional 5,975 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new stake in Apellis Pharmaceuticals during the fourth quarter valued at about $13,755,000. Institutional investors own 96.29% of the company’s shares.

Apellis Pharmaceuticals trading down 3.5%

The company’s fifty-day simple moving average is $38.13, and its 200-day simple moving average is $44.31. 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 market cap of $4.42 billion, a P/E ratio of -10.49 and a beta of 0.88.

Apellis Pharmaceuticals (NASDAQ:APLS – Get Your Free Report ) last issued its earnings results on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm had revenue of $199.70 million for the quarter, compared to the consensus estimate of $190.89 million. In the same quarter last year, the business posted EPS of ($1.02). The company’s revenue was up 110.2% compared to the same quarter last year. As a group, equities research analysts forecast that Apellis Pharmaceuticals, Inc. will post -1.29 EPS for the current fiscal year.

About Apellis Pharmaceuticals

(Get a free report)

Apellis Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development and commercialization of therapeutic compounds through inhibition of the complement system for autoimmune and inflammatory diseases. Provides EMPAVELI for the treatment of paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis and thrombotic microangiopathy associated with hematopoietic stem cell transplantation; and SYFOVRE for the treatment of geographic atrophy secondary to age-related macular degeneration and geographic atrophy (GA).

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