Analysts at Robert W. Baird began coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a report released on Thursday, March 28th, Marketbeat reports. The brokerage set an “outperform” rating and a $45.00 price target on the stock. Robert W. Baird’s target price suggests a potential upside of 138.35% from the stock’s current price.
APLS has been the topic of several other reports. Cantor Fitzgerald set a $57.00 price objective on Apellis Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, February 28th. Zacks Investment Research upgraded Apellis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, February 4th. JPMorgan Chase & Co. lowered Apellis Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Wednesday, January 23rd. B. Riley assumed coverage on Apellis Pharmaceuticals in a research note on Tuesday, January 8th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Citigroup increased their target price on Apellis Pharmaceuticals from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 6th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $42.67.
APLS stock traded up $0.23 during midday trading on Thursday, hitting $18.88. The company’s stock had a trading volume of 179,652 shares, compared to its average volume of 508,295. Apellis Pharmaceuticals has a 12 month low of $11.45 and a 12 month high of $26.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 11.89 and a quick ratio of 11.89. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -8.07 and a beta of 0.49.
In other news, major shareholder Morningside Venture Investment purchased 441,176 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is available at this link. 9.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System boosted its position in Apellis Pharmaceuticals by 15.3% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 12,467 shares of the company’s stock valued at $164,000 after purchasing an additional 1,659 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Apellis Pharmaceuticals by 159.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,903 shares of the company’s stock valued at $38,000 after purchasing an additional 1,785 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Apellis Pharmaceuticals by 35.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,380 shares of the company’s stock valued at $124,000 after purchasing an additional 2,440 shares in the last quarter. Flinton Capital Management LLC bought a new stake in Apellis Pharmaceuticals during the fourth quarter valued at about $36,000. Finally, Citigroup Inc. boosted its position in Apellis Pharmaceuticals by 7.1% during the fourth quarter. Citigroup Inc. now owns 50,913 shares of the company’s stock valued at $672,000 after purchasing an additional 3,386 shares in the last quarter. 50.81% of the stock is currently owned by institutional investors.
Apellis Pharmaceuticals Company Profile
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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