According to Zacks, “Apellis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It focused on the development of novel therapeutic compounds to treat disease through the inhibition of the complement system, which is an integral component of the immune system, at the level of C3, the central protein in the complement cascade. Apellis Pharmaceuticals, Inc. is based in CRESTWOOD, United States. “
Several other equities analysts have also recently weighed in on APLS. Robert W. Baird began coverage on Apellis Pharmaceuticals in a research note on Thursday, March 28th. They set an outperform rating and a $45.00 price objective on the stock. B. Riley began coverage on Apellis Pharmaceuticals in a research note on Tuesday, January 8th. They set a buy rating and a $40.00 price objective on the stock. Cantor Fitzgerald set a $57.00 price objective on Apellis Pharmaceuticals and gave the company a buy rating in a research note on Thursday, February 28th. Finally, JPMorgan Chase & Co. cut Apellis Pharmaceuticals from an overweight rating to a neutral rating and set a $34.00 price objective on the stock. in a research note on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $42.67.
Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data on Tuesday, February 26th. The company reported ($0.65) earnings per share for the quarter, meeting the consensus estimate of ($0.65). As a group, sell-side analysts forecast that Apellis Pharmaceuticals will post -2.85 earnings per share for the current year.
In other Apellis Pharmaceuticals news, major shareholder Morningside Venture Investment bought 441,176 shares of the stock in a transaction dated Monday, March 11th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $7,499,992.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 9.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in APLS. Hillhouse Capital Advisors Ltd. bought a new stake in shares of Apellis Pharmaceuticals during the 4th quarter worth $29,410,000. BlackRock Inc. increased its holdings in Apellis Pharmaceuticals by 30.8% in the 4th quarter. BlackRock Inc. now owns 3,730,626 shares of the company’s stock worth $49,208,000 after acquiring an additional 877,431 shares during the last quarter. Fiduciary Trust Co. purchased a new stake in Apellis Pharmaceuticals in the 4th quarter worth about $9,306,000. Orbimed Advisors LLC purchased a new stake in Apellis Pharmaceuticals in the 4th quarter worth about $4,313,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Apellis Pharmaceuticals in the 1st quarter worth about $6,025,000. Institutional investors own 50.81% of the company’s stock.
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.
Recommended Story: What are Institutional Investors?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Apellis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apellis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.