Apellis Pharmaceuticals (NASDAQ:APLS)‘s stock had its “buy” rating reiterated by investment analysts at Cantor Fitzgerald in a research report issued on Wednesday, May 8th, AnalystRatings.com reports. They currently have a $52.00 price objective on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 158.84% from the stock’s previous close.
The analysts wrote, “: We are reiterating our OW rating on Apellis and lowering our 12-month price target to $52 from $57. This morning, Apellis issued a press release highlighting financial and corporate updates for the period ended on 3/31. Our decrease in price target is based off an increased share count, due to the recent March 2019 financing, and an increase to R&D and SG&A projections. With Phase 3 PEGASUS (PNH) enrollment expected to complete by the end of 2Q19, we believe APLS shares represent a strong buying opportunity, ahead of a potential 4Q19 data readout. Below we revisit our thoughts on APL-2 and its potential to be a disruptive addition to the PNH market.””
A number of other equities research analysts have also commented on APLS. Zacks Investment Research raised Apellis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, January 14th. Robert W. Baird began coverage on Apellis Pharmaceuticals in a research report on Thursday, March 28th. They issued an “outperform” rating and a $45.00 price target for the company. B. Riley began coverage on Apellis Pharmaceuticals in a research report on Tuesday, January 8th. They issued a “buy” rating and a $40.00 price target for the company. Finally, JPMorgan Chase & Co. lowered Apellis Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Wednesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $41.83.
Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.20). Equities analysts predict that Apellis Pharmaceuticals will post -3.16 earnings per share for the current year.
In other Apellis Pharmaceuticals news, major shareholder Morningside Venture Investment acquired 441,176 shares of Apellis Pharmaceuticals stock in a transaction on Monday, March 11th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $7,499,992.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.30% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of APLS. Wellington Management Group LLP raised its holdings in shares of Apellis Pharmaceuticals by 24,676.2% in the 1st quarter. Wellington Management Group LLP now owns 3,876,974 shares of the company’s stock valued at $75,600,000 after acquiring an additional 3,861,326 shares in the last quarter. BlackRock Inc. raised its holdings 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 valued at $49,208,000 after acquiring an additional 877,431 shares in the last quarter. Hillhouse Capital Advisors Ltd. purchased a new stake in shares of Apellis Pharmaceuticals in the 4th quarter valued at about $29,410,000. Sectoral Asset Management Inc raised its holdings in shares of Apellis Pharmaceuticals by 6.4% in the 4th quarter. Sectoral Asset Management Inc now owns 2,168,115 shares of the company’s stock valued at $28,597,000 after acquiring an additional 129,599 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Apellis Pharmaceuticals by 21.7% during the 1st quarter. Victory Capital Management Inc. now owns 1,688,663 shares of the company’s stock valued at $32,929,000 after buying an additional 300,900 shares in the last quarter. Institutional investors own 63.87% 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.
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