On September 26, 2023, Apellis Pharmaceuticals (NASDAQ:APLS) received a reaffirmed “buy” rating from analysts at HC Wainwright in a research report provided to clients and investors. The rating comes with a $82.00 price objective, indicating a possible upside of 90.34% from the stock’s current price.
Shares of APLS opened at $43.08 on Tuesday, with the company’s 50-day moving average at $36.39 and its 200-day moving average at $65.98. Apellis Pharmaceuticals has a market capitalization of $5.07 billion, a price-to-earnings ratio of -7.39, and a beta of 1.08. The business’s debt-to-equity ratio stands at 0.27, with a current ratio of 5.11 and a quick ratio of 4.52.
Apellis Pharmaceuticals has experienced significant activity from hedge funds and other institutional investors in recent times. Bank of New York Mellon Corp raised its stake by 5.8% during the first quarter and now owns 315,480 shares valued at approximately $16,029,000 after acquiring an additional 17,287 shares in the last quarter.
Some institutional investors have also initiated new positions in the company recently, including American Century Companies Inc., which acquired shares worth about $820,000 during the first quarter.
In terms of earnings performance, Apellis Pharmaceuticals announced its quarterly results on July 31st this year. For that period, the company reported an earnings per share (EPS) of ($1.02), surpassing analysts’ consensus estimates by $0.33.
The firm generated revenue amounting to $95 million for the quarter compared to the predicted estimate of $70.38 million—an increase of 482.8% year-over-year.
Despite these positive developments within Apellis Pharmaceuticals, it is important to note that the company currently operates with a negative net margin of 356.02% and a negative return on equity of 212.82%.
Equities research analysts anticipate that for the current fiscal year, the company will post an EPS of -4.89.
In conclusion, HC Wainwright reiterating its “buy” rating for Apellis Pharmaceuticals indicates the firm’s positive outlook for the stock’s future performance. Although the stock has faced fluctuations throughout the year, there is potential for significant growth considering the projected increase in stock value according to HC Wainwright’s target price. However, investors should be mindful of recent volatile market conditions and Apellis Pharmaceuticals’ negative financial indicators when making investment decisions.
[bs_slider_forecast ticker=”HD”]
Mixed Reports and Insider Activity Impact Apellis Pharmaceuticals’ Stock Performance
Apellis Pharmaceuticals, a leading biopharmaceutical company, has received mixed reports from several research firms regarding its stock performance. Bank of America, for instance, increased the price target for Apellis Pharmaceuticals from $40.00 to $43.00 while maintaining a “neutral” rating in their analysis released on September 8th of this year. On the other hand, Needham & Company LLC reaffirmed a “buy” rating and set a price target of $60.00 in their report dated August 30th.
Citigroup also revised their target price for Apellis Pharmaceuticals, raising it from $45.00 to $54.00 and giving the company a “buy” rating in a research note published on August 29th. Similarly, Oppenheimer reiterated an “outperform” rating on Apellis Pharmaceuticals’ shares in their analysis dated August 23rd. In contrast, Robert W. Baird lowered the company’s price objective from $115.00 to $70.00 but upheld an “outperform” rating according to their report released on August 1st.
Overall, analysts seem divided in their assessments of Apellis Pharmaceuticals’ stock with five holding a neutral position, nine assigning it as a buy-rated stock, and one strongly recommending it as a high-quality investment opportunity. According to Bloomberg’s data analysis, there is currently a consensus among analysts that the stock is a “Moderate Buy,” with an average target price of $66.13.
In recent news related to the company’s stocks, insider Nur Nicholson sold 20,350 shares of Apellis Pharmaceuticals’ stock on September 18th at an average price of $44.27 per share. The total value of this transaction amounted to approximately $900,894.50 USD. Following the completion of this sale, Nicholson now holds around 53,284 shares directly within the company valued at $2,358,882.68.
Meanwhile, Director Alec Machiels conducted a separate trade on the same date, selling 1,250 shares of Apellis Pharmaceuticals’ stock at an average price of $45.00 per share for a total value of $56,250.00 USD. Currently, Machiels owns approximately 367,420 shares in the company, valued at roughly $16,533,900.
These insider transactions were disclosed in filings with the Securities and Exchange Commission (SEC), which can be accessed through their official website. It is worth noting that insiders have collectively sold 225,940 shares of Apellis Pharmaceuticals’ stock in the past 90 days alone. This represents approximately 7.50% of the company’s outstanding shares currently owned by insiders.
As stock performance can be influenced by various factors such as analyst ratings and insider activities, investors may find it valuable to stay informed about these industry developments when making investment decisions regarding Apellis Pharmaceuticals or other similar biopharmaceutical companies.
