Cantor Fitzgerald restated their overweight rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research note published on Thursday, Briefing.com Automated Import reports. They currently have a $50.00 price target on the stock, down from their prior price target of $52.00.
Several other brokerages have also issued reports on APLS. ValuEngine raised Apellis Pharmaceuticals from a hold rating to a buy rating in a research note on Wednesday, July 3rd. 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 boosted their price target for the company from $35.00 to $49.00 in a research note on Friday, July 12th. Zacks Investment Research lowered Apellis Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, July 16th. Finally, Oppenheimer started coverage on Apellis Pharmaceuticals in a research note on Tuesday, July 9th. They issued an outperform rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $45.14.
Shares of Apellis Pharmaceuticals stock traded down $0.60 during midday trading on Thursday, reaching $27.44. The company had a trading volume of 276,806 shares, compared to its average volume of 349,756. The stock’s fifty day moving average is $25.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.67 and a quick ratio of 15.23. Apellis Pharmaceuticals has a fifty-two week low of $11.45 and a fifty-two week high of $29.89.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in shares of 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 buying an additional 877,431 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Apellis Pharmaceuticals by 7.0% in the 4th quarter. Bank of New York Mellon Corp now owns 152,720 shares of the company’s stock worth $2,015,000 after buying an additional 9,932 shares during the last quarter. Geode Capital Management LLC lifted its position in Apellis Pharmaceuticals by 13.0% in the 4th quarter. Geode Capital Management LLC now owns 421,849 shares of the company’s stock valued at $5,564,000 after purchasing an additional 48,603 shares during the last quarter. Bank of America Corp DE lifted its position in Apellis Pharmaceuticals by 146.0% in the 4th quarter. Bank of America Corp DE now owns 17,533 shares of the company’s stock valued at $231,000 after purchasing an additional 10,407 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in Apellis Pharmaceuticals by 103.3% in the 4th quarter. Squarepoint Ops LLC now owns 42,904 shares of the company’s stock valued at $566,000 after purchasing an additional 21,804 shares during the last quarter. 63.49% of the stock is currently owned by hedge funds and other 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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