Apellis Pharmaceuticals (NASDAQ:APLS) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research report sent to investors on Thursday, Benzinga reports. Needham & Company LLC currently has a $85.00 price target on the stock.

APLS has been the topic of several other reports. Robert W. Baird restated an outperform rating and set a $81.00 price objective on shares of Apellis Pharmaceuticals in a research note on Tuesday, February 6th. Oppenheimer raised their price objective on Apellis Pharmaceuticals from $75.00 to $79.00 and gave the company an outperform rating in a research note on Tuesday, January 30th. Raymond James raised their price objective on Apellis Pharmaceuticals from $67.00 to $106.00 and gave the company a strong-buy rating in a research note on Thursday, January 11th. Mizuho reaffirmed a neutral rating and set a $60.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday, March 27th. Finally, Wedbush decreased their target price on Apellis Pharmaceuticals from $67.00 to $57.00 and set a neutral rating for the company in a research report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals presently has an average rating of Moderate Buy and a consensus price target of $77.93.

Apellis Pharmaceuticals Price Performance

Shares of APLS opened at $49.86 on Thursday. Apellis Pharmaceuticals has a 12-month low of $19.83 and a 12-month high of $94.75. The business’s fifty day moving average is $57.84 and its 200 day moving average is $57.53. The company has a quick ratio of 2.50, a current ratio of 3.10 and a debt-to-equity ratio of 0.48. The stock has a market cap of $6.01 billion, a P/E ratio of -11.13 and a beta of 0.88.

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

Insider Buying and Selling

In related news, General Counsel David O. Watson sold 781 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $67.77, for a total value of $52,928.37. Following the completion of the sale, the general counsel now owns 103,390 shares of the company’s stock, valued at approximately $7,006,740.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Apellis Pharmaceuticals news, CEO Cedric Francois sold 3,962 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was 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 filing with the SEC, which can be accessed through the SEC website. Also, General Counsel David O. Watson sold 781 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $67.77, for a total value of $52,928.37. Following the completion of the transaction, the general counsel now owns 103,390 shares of the company’s stock, valued at approximately $7,006,740.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 376,427 shares of company stock valued at $23,169,639. 7.50% of the stock is owned by insiders.

Institutional Trading of Apellis Pharmaceuticals

A number of large investors have recently modified their holdings of APLS. First Horizon Advisors Inc. boosted its position in shares of Apellis Pharmaceuticals by 69.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 649 shares of the company’s stock valued at $25,000 after acquiring an additional 265 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Apellis Pharmaceuticals during the 1st quarter valued at about $29,000. Covestor Ltd boosted its position in shares of Apellis Pharmaceuticals by 564.2% during the 3rd quarter. Covestor Ltd now owns 797 shares of the company’s stock valued at $30,000 after acquiring an additional 677 shares during the last quarter. Stephens Consulting LLC bought a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter valued at about $38,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Apellis Pharmaceuticals by 29.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,028 shares of the company’s stock valued at $115,000 after acquiring an additional 687 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

About Apellis Pharmaceuticals

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).