HC Wainwright Reiterates Buy Rating for Apellis Pharmaceuticals (NASDAQ:APLS)

HC Wainwright restated their buy rating on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research report report published on Thursday morning,Benzinga reports. HC Wainwright currently has a $57.00 target price on the stock.

Several other brokerages have also issued reports on APLS. Bank of America decreased their target price on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Citigroup decreased their price objective on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group cut shares of Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research note on Tuesday, December 17th. Robert W. Baird decreased their price target on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Piper Sandler lowered their price target on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.71.

Apellis Pharmaceuticals Stock Performance

Shares of APLS opened at $27.46 on Thursday. The stock has a 50 day moving average of $31.45 and a 200 day moving average of $32.30. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -13.53 and a beta of 0.96. Apellis Pharmaceuticals has a 12 month low of $24.34 and a 12 month high of $71.90. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91.

Insider Activity

In other Apellis Pharmaceuticals news, insider Caroline Baumal sold 2,816 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $33.81, for a total value of $95,208.96. Following the sale, the insider now directly owns 55,560 shares in the company, valued at $1,878,483.60. This represents a 4.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Cedric Francois sold 2,824 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $29.52, for a total transaction of $83,364.48. Following the transaction, the chief executive officer now owns 415,695 shares of the company’s stock, valued at $12,271,316.40. This trade represents a 0.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,365 shares of company stock worth $1,810,479. 6.80% of the stock is owned by company insiders.

Institutional Trading of Apellis Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its position in shares of Apellis Pharmaceuticals by 2,707.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock worth $25,000 after purchasing an additional 758 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in Apellis Pharmaceuticals in the 3rd quarter worth approximately $27,000. True Wealth Design LLC bought a new position in shares of Apellis Pharmaceuticals in the 3rd quarter worth $27,000. Signaturefd LLC raised its position in shares of Apellis Pharmaceuticals by 357.2% during the 4th quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock valued at $37,000 after buying an additional 918 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter valued at $56,000. 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).