Apellis Pharmaceuticals (NASDAQ:APLS) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Friday, Marketbeat Ratings reports. The firm presently has a $49.00 price objective on the stock, up from their previous price objective of $35.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 79.16% from the stock’s current price.
A number of other brokerages also recently commented on APLS. ValuEngine raised Vistra Energy from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. Zacks Investment Research raised HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Cantor Fitzgerald reissued a “buy” rating and issued a $107.00 price target on shares of Perrigo in a report on Wednesday, May 8th. Robert W. Baird began coverage on Uniqure in a report on Thursday, March 28th. They issued an “outperform” rating and a $85.00 price target for the company. Finally, Cowen reissued a “hold” rating on shares of Sunesis Pharmaceuticals in a report on Sunday, June 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $45.43.
Shares of NASDAQ APLS opened at $27.35 on Friday. Apellis Pharmaceuticals has a 1-year low of $11.45 and a 1-year high of $29.07. The stock has a 50-day moving average of $22.89. The company has a quick ratio of 15.23, a current ratio of 15.23 and a debt-to-equity ratio of 0.05.
Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Wednesday, May 8th. The company reported ($0.87) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.20). On average, research analysts anticipate that Apellis Pharmaceuticals will post -3.21 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers raised its stake in Apellis Pharmaceuticals by 47.9% during the fourth quarter. Rhumbline Advisers now owns 47,040 shares of the company’s stock valued at $620,000 after buying an additional 15,225 shares in the last quarter. Orbimed Advisors LLC acquired a new stake in Apellis Pharmaceuticals during the fourth quarter valued at approximately $4,313,000. Assenagon Asset Management S.A. acquired a new stake in Apellis Pharmaceuticals during the first quarter valued at approximately $6,025,000. Victory Capital Management Inc. raised its stake in Apellis Pharmaceuticals by 21.7% during the first 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. Finally, Bank of New York Mellon Corp raised its stake in Apellis Pharmaceuticals by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 152,720 shares of the company’s stock valued at $2,015,000 after buying an additional 9,932 shares in the last quarter. 63.45% of the stock is owned by hedge funds and other institutional investors.
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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