Apellis Pharmaceuticals (NASDAQ:APLS) Upgraded at JPMorgan Chase & Co.

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JPMorgan Chase & Co. upgraded shares of Apellis Pharmaceuticals (NASDAQ:APLS) from a neutral rating to an overweight rating in a research report released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has $49.00 price target on the stock, up from their prior price target of $35.00.

Other research analysts have also issued reports about the company. Zacks Investment Research raised HANNOVER RUECK/S from a sell rating to a hold rating in a research report on Friday, May 17th. Cantor Fitzgerald reissued a buy rating and issued a $107.00 price objective on shares of Perrigo in a research report on Wednesday, May 8th. Oppenheimer raised their price objective on Valeritas from $1.25 to $12.00 and gave the company an outperform rating in a research report on Tuesday, July 9th. ValuEngine raised Vistra Energy from a hold rating to a buy rating in a research report on Wednesday, July 3rd. Finally, Robert W. Baird initiated coverage on Uniqure in a research note on Thursday, March 28th. They set an outperform rating and a $85.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $45.43.

NASDAQ:APLS opened at $26.24 on Friday. The firm has a 50-day moving average of $23.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.23 and a current ratio of 15.23. Apellis Pharmaceuticals has a 12 month low of $11.45 and a 12 month high of $29.07.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.20). Equities research analysts anticipate that Apellis Pharmaceuticals will post -3.21 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of Apellis Pharmaceuticals by 47.9% during the fourth quarter. Rhumbline Advisers now owns 47,040 shares of the company’s stock valued at $620,000 after acquiring an additional 15,225 shares in the last quarter. Orbimed Advisors LLC acquired a new stake in shares of Apellis Pharmaceuticals during the fourth quarter valued at about $4,313,000. Bank of New York Mellon Corp grew its stake in shares of Apellis Pharmaceuticals by 7.0% during the fourth quarter. Bank of New York Mellon Corp now owns 152,720 shares of the company’s stock valued at $2,015,000 after acquiring an additional 9,932 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Apellis Pharmaceuticals in the first quarter worth about $6,025,000. Finally, Victory Capital Management Inc. grew its stake in Apellis Pharmaceuticals by 21.7% in the first quarter. Victory Capital Management Inc. now owns 1,688,663 shares of the company’s stock worth $32,929,000 after purchasing an additional 300,900 shares in the last quarter. Institutional investors own 63.45% of the company’s stock.

About Apellis Pharmaceuticals

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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