Apellis Pharmaceuticals (APLS) Upgraded at ValuEngine

ValuEngine upgraded shares of Apellis Pharmaceuticals (NASDAQ:APLS) from a hold rating to a buy rating in a report issued on Thursday morning.

A number of other research firms have also recently weighed in on APLS. Cowen started coverage on Apellis Pharmaceuticals in a report on Tuesday, July 10th. They set an outperform rating and a $40.00 price target for the company. Cantor Fitzgerald raised their price target on Apellis Pharmaceuticals from $52.00 to $53.00 and gave the company a buy rating in a report on Tuesday, August 7th. Zacks Investment Research cut Apellis Pharmaceuticals from a hold rating to a sell rating in a report on Friday, August 3rd. Finally, B. Riley raised Apellis Pharmaceuticals from a neutral rating to a buy rating and set a $27.00 price target for the company in a report on Monday, July 30th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Apellis Pharmaceuticals has a consensus rating of Buy and an average price target of $36.00.

APLS stock opened at $15.00 on Thursday. Apellis Pharmaceuticals has a fifty-two week low of $11.45 and a fifty-two week high of $32.00. The company has a quick ratio of 26.02, a current ratio of 26.02 and a debt-to-equity ratio of 0.12.

In other news, major shareholder Morningside Venture Investment bought 140,000 shares of the stock in a transaction dated Wednesday, September 19th. The stock was bought at an average cost of $18.34 per share, with a total value of $2,567,600.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel David O. Watson sold 15,776 shares of Apellis Pharmaceuticals stock in a transaction on Friday, September 14th. The shares were sold at an average price of $18.78, for a total value of $296,273.28. The disclosure for this sale can be found here. Company insiders own 9.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hillhouse Capital Management Ltd. increased its stake in shares of Apellis Pharmaceuticals by 203.0% in the 2nd quarter. Hillhouse Capital Management Ltd. now owns 4,328,289 shares of the company’s stock valued at $95,222,000 after buying an additional 2,899,718 shares during the period. venBio Partners L.P. acquired a new stake in shares of Apellis Pharmaceuticals in the 2nd quarter valued at $72,482,000. BlackRock Inc. increased its stake in shares of Apellis Pharmaceuticals by 152.9% in the 2nd quarter. BlackRock Inc. now owns 2,798,968 shares of the company’s stock valued at $61,578,000 after buying an additional 1,692,121 shares during the period. Victory Capital Management Inc. increased its stake in shares of Apellis Pharmaceuticals by 44.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,347,753 shares of the company’s stock valued at $23,963,000 after buying an additional 415,000 shares during the period. Finally, FMR LLC increased its stake in shares of Apellis Pharmaceuticals by 34.6% in the 2nd quarter. FMR LLC now owns 1,343,140 shares of the company’s stock valued at $29,549,000 after buying an additional 345,376 shares during the period. 57.58% of the stock is owned by institutional investors.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development of novel therapeutic compounds for autoimmune and inflammatory diseases. Its lead product candidate is APL-2 to treat geographic atrophy, wet age-related macular degeneration, paroxysmal nocturnal hemoglobinuria, autoimmune hemolytic anemia, and nephrology.

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Analyst Recommendations for Apellis Pharmaceuticals (NASDAQ:APLS)

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