Apellis Pharmaceuticals (NASDAQ:APLS) Hits New 12-Month Low – What’s Next?

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $24.33 and last traded at $25.13, with a volume of 326662 shares. The stock had previously closed at $26.00.

Analyst Ratings Changes

APLS has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut shares of Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a report on Tuesday, December 17th. Oppenheimer dropped their target price on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI raised Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Bank of America dropped their price objective on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, Morgan Stanley initiated coverage on Apellis Pharmaceuticals in a research note on Thursday, November 21st. They set an “equal weight” rating and a $31.00 target price for the company. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.71.

Apellis Pharmaceuticals Price Performance

The stock’s fifty day moving average price is $30.04 and its 200-day moving average price is $31.62. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The firm has a market cap of $3.13 billion, a PE ratio of -12.39 and a beta of 0.96.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Friday, February 28th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.08. The company had revenue of $212.50 million during the quarter, compared to the consensus estimate of $197.92 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. Apellis Pharmaceuticals’s quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.73) EPS. As a group, equities analysts expect that Apellis Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, CAO James George Chopas sold 1,096 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total value of $33,351.28. Following the completion of the sale, the chief accounting officer now directly owns 48,138 shares of the company’s stock, valued at $1,464,839.34. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Caroline Baumal sold 2,816 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $33.81, for a total transaction of $95,208.96. Following the transaction, the insider now directly owns 55,560 shares in the company, valued at approximately $1,878,483.60. The trade was a 4.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,365 shares of company stock worth $1,810,479. 6.80% of the stock is owned by corporate insiders.

Institutional Trading of Apellis Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. KBC Group NV raised its position in shares of Apellis Pharmaceuticals by 34.8% during the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after buying an additional 679 shares during the period. Xponance Inc. increased its stake in Apellis Pharmaceuticals by 5.6% during the fourth quarter. Xponance Inc. now owns 14,072 shares of the company’s stock worth $449,000 after acquiring an additional 749 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Apellis Pharmaceuticals by 2,707.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock worth $25,000 after acquiring an additional 758 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Apellis Pharmaceuticals by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock valued at $130,000 after purchasing an additional 781 shares during the period. Finally, Woodline Partners LP lifted its stake in shares of Apellis Pharmaceuticals by 0.5% in the 4th quarter. Woodline Partners LP now owns 189,477 shares of the company’s stock valued at $6,046,000 after purchasing an additional 913 shares during the last quarter. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. It offers EMPAVELI for the treatment of paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy secondary to age-related macular degeneration and geographic atrophy (GA).