Equities research analysts at Cantor Fitzgerald assumed coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a report issued on Wednesday, Marketbeat.com reports. The firm set an “overweight” rating on the stock.
The analysts wrote, “We are initiating on Overweight rating and $52 price target. Apellis is in development of APL-2, a C3 complement inhibitor, for the treatment of complement-mediated diseases such as geographic atrophy (GA) and paroxysmal nocturnal hemoglobinuria (PNH), which are both entering Phase 3 development in 2H18. In our view, APL-2 has the potential to offer a first-in-class treatment for GA, a late stage dry form of AMD, and first-line therapy for PNH, an ultra rare orphan blood disorder. In our view, the compelling Phase 2 programs behind APL-2 support a high potential for success for APL-2 to serve these multi- billion market opportunities.””
Other research analysts have also recently issued research reports about the company. B. Riley started coverage on Apellis Pharmaceuticals in a research report on Thursday, February 8th. They issued a “buy” rating and a $27.00 price target on the stock. Zacks Investment Research upgraded Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Tuesday, March 27th. ValuEngine upgraded Apellis Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on Apellis Pharmaceuticals from $31.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, March 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $27.50.
Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Monday, April 30th. The company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.11). equities research analysts forecast that Apellis Pharmaceuticals will post -1.53 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in APLS. Jennison Associates LLC acquired a new stake in Apellis Pharmaceuticals in the fourth quarter valued at about $13,170,000. Quantitative Systematic Strategies LLC acquired a new stake in Apellis Pharmaceuticals in the fourth quarter valued at about $317,000. NF Trinity Capital Hong Kong Ltd acquired a new stake in Apellis Pharmaceuticals in the fourth quarter valued at about $7,750,000. Candriam Luxembourg S.C.A. acquired a new stake in Apellis Pharmaceuticals in the fourth quarter valued at about $2,539,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Apellis Pharmaceuticals in the fourth quarter valued at about $186,000. 30.32% of the stock is currently owned by institutional investors and hedge funds.
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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