Evercore ISI Begins Coverage on Apellis Pharmaceuticals (APLS)

Evercore ISI started coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a research note issued to investors on Monday morning, Marketbeat.com reports. The firm issued an outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. Citigroup started coverage on shares of Apellis Pharmaceuticals in a research report on Monday. They set a buy rating and a $23.00 target price on the stock. J P Morgan Chase & Co started coverage on shares of Apellis Pharmaceuticals in a research report on Monday. They set an overweight rating and a $31.00 target price on the stock.

Shares of Apellis Pharmaceuticals (NASDAQ APLS) traded up $0.39 during midday trading on Monday, hitting $13.99. 407,900 shares of the company’s stock traded hands, compared to its average volume of 129,995. Apellis Pharmaceuticals has a 52 week low of $12.45 and a 52 week high of $15.41.

In related news, major shareholder Global Strategic Fund I. Venbio bought 127,515 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were bought at an average cost of $14.00 per share, for a total transaction of $1,785,210.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

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About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company focuses on the discovery and development of therapeutic compounds for autoimmune and inflammatory diseases. The Company’s lead compounds are designed to inhibit complement component 3 (C3), the central protein in the complement cascade.

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