Apellis Pharmaceuticals (NASDAQ:APLS) Shares Up 5.3%

Apellis Pharmaceuticals Inc (NASDAQ:APLS)’s stock price shot up 5.3% during trading on Wednesday . The stock traded as high as $27.66 and last traded at $29.00, 34,859 shares changed hands during trading. A decline of 97% from the average session volume of 1,224,081 shares. The stock had previously closed at $27.53.

Several research firms have commented on APLS. SVB Leerink began coverage on Apellis Pharmaceuticals in a research note on Tuesday, January 7th. They set a “market perform” rating and a $30.00 price objective for the company. Oppenheimer boosted their price objective on Apellis Pharmaceuticals from to and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Cantor Fitzgerald reiterated a “buy” rating and set a $54.00 price objective on shares of Apellis Pharmaceuticals in a research note on Tuesday, January 7th. Cowen reiterated a “buy” rating and set a $40.00 price objective on shares of Apellis Pharmaceuticals in a research note on Friday, February 28th. Finally, Wedbush upgraded Apellis Pharmaceuticals from an “underperform” rating to a “neutral” rating and set a $29.00 price objective for the company in a research note on Wednesday, March 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $48.40.

The company has a quick ratio of 5.67, a current ratio of 5.67 and a debt-to-equity ratio of 4.51. The business has a 50-day moving average price of $33.99 and a 200-day moving average price of $31.20. The firm has a market capitalization of $2.09 billion, a PE ratio of -5.56 and a beta of 0.89.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.14) by ($0.63). On average, equities research analysts anticipate that Apellis Pharmaceuticals Inc will post -5.64 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of APLS. First Trust Advisors LP purchased a new stake in shares of Apellis Pharmaceuticals in the third quarter valued at approximately $1,590,000. Endurant Capital Management LP purchased a new stake in shares of Apellis Pharmaceuticals in the third quarter valued at approximately $537,000. Pictet Asset Management Ltd. grew its position in shares of Apellis Pharmaceuticals by 11.8% in the third quarter. Pictet Asset Management Ltd. now owns 72,919 shares of the company’s stock valued at $1,757,000 after purchasing an additional 7,725 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Apellis Pharmaceuticals by 1.2% in the third quarter. California State Teachers Retirement System now owns 75,326 shares of the company’s stock valued at $1,815,000 after purchasing an additional 909 shares in the last quarter. Finally, Barclays PLC grew its position in Apellis Pharmaceuticals by 7.0% in the third quarter. Barclays PLC now owns 47,249 shares of the company’s stock worth $1,139,000 after acquiring an additional 3,111 shares during the period. Institutional investors and hedge funds own 58.77% of the company’s stock.

About Apellis Pharmaceuticals (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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