Apellis Pharmaceuticals (NASDAQ:APLS) Sets New 12-Month High at $24.73

Apellis Pharmaceuticals Inc (NASDAQ:APLS)’s share price hit a new 52-week high on Thursday . The company traded as high as $24.73 and last traded at $24.15, with a volume of 8483 shares traded. The stock had previously closed at $23.40.

APLS has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Apellis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Cantor Fitzgerald reiterated a “buy” rating and issued a $52.00 price objective on shares of Apellis Pharmaceuticals in a research report on Wednesday, May 8th. Robert W. Baird initiated coverage on shares of Apellis Pharmaceuticals in a research report on Thursday, March 28th. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, Cowen reiterated a “buy” rating and issued a $40.00 price objective on shares of Apellis Pharmaceuticals in a research report on Sunday, June 16th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $41.83.

The firm has a 50-day moving average price of $20.84. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -10.83 and a beta of 0.43. The company has a current ratio of 15.23, a quick ratio of 15.23 and a debt-to-equity ratio of 0.05.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.20). Equities research analysts forecast that Apellis Pharmaceuticals Inc will post -3.16 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in APLS. Hillhouse Capital Advisors Ltd. acquired a new position in shares of Apellis Pharmaceuticals during the 4th quarter worth about $29,410,000. BlackRock Inc. raised its position in shares of Apellis Pharmaceuticals by 30.8% during the 4th quarter. BlackRock Inc. now owns 3,730,626 shares of the company’s stock worth $49,208,000 after purchasing an additional 877,431 shares during the last quarter. Orbimed Advisors LLC acquired a new position in shares of Apellis Pharmaceuticals during the 4th quarter worth about $4,313,000. Assenagon Asset Management S.A. acquired a new position in shares of Apellis Pharmaceuticals during the 1st quarter worth about $6,025,000. Finally, Victory Capital Management Inc. raised its position 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 worth $32,929,000 after purchasing an additional 300,900 shares during the last quarter. Hedge funds and other institutional investors own 63.45% of the company’s stock.

Apellis Pharmaceuticals Company Profile (NASDAQ:APLS)

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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