Apellis Pharmaceuticals (NASDAQ:APLS) Rating Increased to Overweight at JPMorgan Chase & Co.

Apellis Pharmaceuticals (NASDAQ:APLS) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report issued on Friday, MarketBeat reports. The brokerage currently has a $49.00 target price on the stock, up from their prior target price of $35.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 79.16% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Robert W. Baird began coverage on Uniqure in a research note on Thursday, March 28th. They set an “outperform” rating and a $85.00 price objective for the company. Oppenheimer raised their price objective on Valeritas from $1.25 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Cantor Fitzgerald reissued a “buy” rating and set a $107.00 price objective on shares of Perrigo in a research note on Wednesday, May 8th. Zacks Investment Research raised HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Cowen reissued a “hold” rating on shares of Sunesis Pharmaceuticals in a research note on Sunday, June 16th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $45.43.

Shares of NASDAQ APLS opened at $27.35 on Friday. The firm’s fifty day moving average price is $22.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.23 and a quick ratio of 15.23. Apellis Pharmaceuticals has a 1 year low of $11.45 and a 1 year high of $29.07.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.20). Equities research analysts forecast that Apellis Pharmaceuticals will post -3.21 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Flinton Capital Management LLC bought a new stake in shares of Apellis Pharmaceuticals during the 4th quarter worth $36,000. SG Americas Securities LLC purchased a new stake in shares of Apellis Pharmaceuticals in the first quarter valued at $112,000. PNC Financial Services Group Inc. lifted its holdings in shares of Apellis Pharmaceuticals by 35.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,380 shares of the company’s stock valued at $124,000 after purchasing an additional 2,440 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Apellis Pharmaceuticals by 250,533.3% in the first quarter. BNP Paribas Arbitrage SA now owns 7,519 shares of the company’s stock valued at $147,000 after purchasing an additional 7,516 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Apellis Pharmaceuticals by 356.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,216 shares of the company’s stock valued at $161,000 after purchasing an additional 9,541 shares in the last quarter. 63.45% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Apellis Pharmaceuticals (NASDAQ:APLS)

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