ValuEngine Downgrades Apellis Pharmaceuticals (NASDAQ:APLS) to Hold

Apellis Pharmaceuticals (NASDAQ:APLS) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday, ValuEngine reports.

Other research analysts have also issued reports about the company. Oppenheimer assumed coverage on Apellis Pharmaceuticals in a report on Tuesday, July 9th. They set an “outperform” rating and a $52.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 target price (down from $52.00) on shares of Apellis Pharmaceuticals in a report on Thursday. Cowen reissued a “buy” rating and issued a $40.00 price target on shares of Apellis Pharmaceuticals in a research note on Sunday, June 16th. JPMorgan Chase & Co. raised Apellis Pharmaceuticals from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $35.00 to $49.00 in a research note on Friday, July 12th. Finally, Zacks Investment Research cut Apellis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. Apellis Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $45.14.

NASDAQ:APLS traded down $0.60 during mid-day trading on Thursday, reaching $27.44. 276,806 shares of the stock were exchanged, compared to its average volume of 329,552. The business’s fifty day moving average price is $25.96. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -11.73 and a beta of 0.75. Apellis Pharmaceuticals has a 1-year low of $11.45 and a 1-year high of $29.89. The company has a quick ratio of 15.23, a current ratio of 15.23 and a debt-to-equity ratio of 0.05.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Wednesday, May 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.20). As a group, research analysts expect that Apellis Pharmaceuticals will post -3.21 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Swiss National Bank lifted its position in shares of Apellis Pharmaceuticals by 2.1% in the second quarter. Swiss National Bank now owns 81,100 shares of the company’s stock valued at $2,055,000 after buying an additional 1,700 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Apellis Pharmaceuticals in the second quarter valued at approximately $3,276,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Apellis Pharmaceuticals by 59.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,944 shares of the company’s stock valued at $75,000 after buying an additional 1,099 shares during the last quarter. Bailard Inc. lifted its position in shares of Apellis Pharmaceuticals by 15.4% in the second quarter. Bailard Inc. now owns 15,000 shares of the company’s stock valued at $380,000 after buying an additional 2,000 shares during the last quarter. Finally, Regent Investment Management LLC acquired a new stake in shares of Apellis Pharmaceuticals in the second quarter valued at approximately $591,000. 63.49% of the stock is currently owned by hedge funds and other 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.

Further Reading: How to build a Fibonacci channel

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Apellis Pharmaceuticals (NASDAQ:APLS)

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.