Leerink Swann started coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research report released on Tuesday, January 7th, The Fly reports. The brokerage issued a market perform rating and a $30.00 price target on the stock.
A number of other research firms have also weighed in on APLS. Cantor Fitzgerald reiterated an overweight rating and issued a $54.00 price objective (up from $50.00) on shares of Apellis Pharmaceuticals in a research report on Monday, November 25th. Zacks Investment Research upgraded shares of Apellis Pharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, December 24th. Wedbush initiated coverage on shares of Apellis Pharmaceuticals in a research report on Wednesday, November 27th. They set an underperform rating and a $23.00 target price on the stock. Robert W. Baird restated an overweight rating and set a $70.00 target price (up from $45.00) on shares of Apellis Pharmaceuticals in a research report on Tuesday, January 7th. Finally, Bank of America initiated coverage on shares of Apellis Pharmaceuticals in a research report on Thursday, December 19th. They set a buy rating and a $36.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $46.09.
Shares of Apellis Pharmaceuticals stock traded down $1.82 during trading on Tuesday, reaching $40.24. The company’s stock had a trading volume of 614,365 shares, compared to its average volume of 2,529,458. The company has a 50-day moving average price of $30.32 and a two-hundred day moving average price of $28.23. The firm has a market cap of $3.15 billion, a PE ratio of -17.20 and a beta of 0.68. Apellis Pharmaceuticals has a fifty-two week low of $12.50 and a fifty-two week high of $42.67. The company has a current ratio of 10.12, a quick ratio of 10.12 and a debt-to-equity ratio of 1.09.
In other news, CEO Cedric Francois sold 5,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $27.82, for a total transaction of $139,100.00. Corporate insiders own 10.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of APLS. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Apellis Pharmaceuticals by 160.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,300 shares of the company’s stock worth $33,000 after acquiring an additional 800 shares during the period. Tower Research Capital LLC TRC purchased a new position in Apellis Pharmaceuticals in the 2nd quarter worth approximately $39,000. Bank of Montreal Can purchased a new position in Apellis Pharmaceuticals in the 2nd quarter worth approximately $103,000. III Capital Management purchased a new position in Apellis Pharmaceuticals in the 3rd quarter worth approximately $169,000. Finally, JPMorgan Chase & Co. boosted its holdings in Apellis Pharmaceuticals by 50.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,276 shares of the company’s stock worth $325,000 after acquiring an additional 4,465 shares during the period. 63.84% of the stock is owned by institutional investors.
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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