Apellis Pharmaceuticals (NASDAQ:APLS) has been given a $53.00 target price by Cantor Fitzgerald in a research note issued on Monday. The firm presently has a “buy” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 245.50% from the company’s current price.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Apellis Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, November 16th. JPMorgan Chase & Co. reduced their price objective on shares of Apellis Pharmaceuticals from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, November 14th. ValuEngine upgraded shares of Apellis Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, B. Riley upped their price objective on shares of Apellis Pharmaceuticals from $27.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 13th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $35.83.
NASDAQ:APLS opened at $15.34 on Monday. The company has a market cap of $862.76 million and a price-to-earnings ratio of -4.18. The company has a current ratio of 14.90, a quick ratio of 14.91 and a debt-to-equity ratio of 0.14. Apellis Pharmaceuticals has a twelve month low of $11.45 and a twelve month high of $32.00.
In other news, major shareholder Morningside Venture Investment acquired 81,323 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The stock was purchased at an average price of $19.48 per share, with a total value of $1,584,172.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David O. Watson sold 15,776 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $18.78, for a total transaction of $296,273.28. The disclosure for this sale can be found here. Corporate insiders own 9.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Hillhouse Capital Management Ltd. boosted its stake in Apellis Pharmaceuticals by 203.0% during the second quarter. Hillhouse Capital Management Ltd. now owns 4,328,289 shares of the company’s stock worth $95,222,000 after buying an additional 2,899,718 shares during the period. venBio Partners L.P. acquired a new stake in shares of Apellis Pharmaceuticals during the second quarter worth about $72,482,000. BlackRock Inc. lifted its position in shares of Apellis Pharmaceuticals by 1.9% during the third quarter. BlackRock Inc. now owns 2,853,195 shares of the company’s stock worth $50,730,000 after purchasing an additional 54,227 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Apellis Pharmaceuticals by 5.4% during the third quarter. Vanguard Group Inc. now owns 1,414,900 shares of the company’s stock worth $25,157,000 after purchasing an additional 72,610 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Apellis Pharmaceuticals by 44.5% during the third quarter. Victory Capital Management Inc. now owns 1,347,753 shares of the company’s stock worth $23,963,000 after purchasing an additional 415,000 shares in the last quarter. 55.94% of the stock is owned by institutional investors.
About Apellis Pharmaceuticals
Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapeutic compounds for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 to treat geographic atrophy, wet age-related macular degeneration, paroxysmal nocturnal hemoglobinuria, autoimmune hemolytic anemia, and nephrology.
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