Shares of Apellis Pharmaceuticals Inc (NASDAQ:APLS) have been given an average recommendation of “Buy” by the eight ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $41.83.
Several brokerages have weighed in on APLS. Zacks Investment Research lowered Apellis Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $52.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday, May 8th. Robert W. Baird began coverage on Apellis Pharmaceuticals in a research report on Thursday, March 28th. They issued an “outperform” rating and a $45.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered Apellis Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Wednesday, January 23rd.
APLS stock traded down $0.53 during mid-day trading on Friday, hitting $18.00. The stock had a trading volume of 394,780 shares, compared to its average volume of 436,619. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.23 and a quick ratio of 15.23. Apellis Pharmaceuticals has a 1-year low of $11.45 and a 1-year high of $24.92. The firm has a market cap of $1.17 billion, a P/E ratio of -7.69 and a beta of 0.44.
In related news, major shareholder Morningside Venture Investment acquired 441,176 shares of the stock in a transaction dated Monday, March 11th. The shares were acquired at an average price of $17.00 per share, with a total value of $7,499,992.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of APLS. Flinton Capital Management LLC acquired a new position in shares of Apellis Pharmaceuticals during the 4th quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Apellis Pharmaceuticals by 159.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,903 shares of the company’s stock valued at $38,000 after acquiring an additional 1,785 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Apellis Pharmaceuticals during the 1st quarter valued at about $112,000. BlueMountain Capital Management LLC increased its holdings in shares of Apellis Pharmaceuticals by 87.6% during the 1st quarter. BlueMountain Capital Management LLC now owns 6,126 shares of the company’s stock valued at $119,000 after acquiring an additional 2,860 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Apellis Pharmaceuticals by 35.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,380 shares of the company’s stock valued at $124,000 after acquiring an additional 2,440 shares during the last quarter. 51.74% of the stock is currently owned by institutional investors and hedge funds.
About Apellis Pharmaceuticals
Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 that is in Phase III clinical trials for the treatment of geographic atrophy in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria diseases; and in Phase II clinical trials for the treatment of cold agglutinin and warm antibody autoimmune hemolytic anemia diseases, as well as in Phase II clinical trials to treat four types of glomerular diseases, such as C3 glomerulopathy, IgA nephropathy, primary membranous nephropathy, and lupus nephritis.
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