Apellis Pharmaceuticals (NASDAQ:APLS) Shares Up 7.7%
Apellis Pharmaceuticals Inc (NASDAQ:APLS)’s stock price shot up 7.7% on Thursday . The company traded as high as $25.33 and last traded at $24.84, 844,814 shares changed hands during trading. An increase of 86% from the average session volume of 454,447 shares. The stock had previously closed at $23.07.
A number of brokerages recently weighed in on APLS. Cantor Fitzgerald restated an “overweight” rating and set a $50.00 target price (down from $52.00) on shares of Apellis Pharmaceuticals in a report on Thursday, August 1st. ValuEngine cut shares of Apellis Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Apellis Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. upgraded shares of Apellis Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $35.00 to $49.00 in a report on Friday, July 12th. Finally, Oppenheimer began coverage on shares of Apellis Pharmaceuticals in a report on Tuesday, July 9th. They set an “outperform” rating and a $52.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $45.14.
The business’s 50 day moving average is $27.23 and its 200 day moving average is $23.76. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.67 and a current ratio of 8.67. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -10.62 and a beta of 0.68.
In related news, COO Pascal Deschatelets sold 42,460 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $24.82, for a total value of $1,053,857.20. Also, CFO Timothy Eugene Sullivan acquired 11,699 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average cost of $29.71 per share, with a total value of $347,577.29. Following the purchase, the chief financial officer now directly owns 11,699 shares in the company, valued at approximately $347,577.29. The disclosure for this purchase can be found here. Insiders sold a total of 57,460 shares of company stock valued at $1,454,807 in the last ninety days. Company insiders own 10.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in Apellis Pharmaceuticals by 160.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,300 shares of the company’s stock worth $33,000 after purchasing an additional 800 shares during the period. Tower Research Capital LLC TRC purchased a new stake in Apellis Pharmaceuticals in the 2nd quarter worth approximately $39,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Apellis Pharmaceuticals by 59.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,944 shares of the company’s stock worth $75,000 after buying an additional 1,099 shares in the last quarter. Bank of Montreal Can purchased a new stake in Apellis Pharmaceuticals in the 2nd quarter worth approximately $103,000. Finally, SG Americas Securities LLC purchased a new stake in Apellis Pharmaceuticals in the 1st quarter worth approximately $112,000. 63.44% of the stock is owned by hedge funds and other institutional investors.
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.
Read More: Trading Ex-Dividend
Receive News & Ratings for Apellis Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apellis Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.