Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Get Free Report) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 21,810,000 shares, a decrease of 5.9% from the November 15th total of 23,180,000 shares. Based on an average daily volume of 3,240,000 shares, the short-interest ratio is currently 6.7 days.
A number of large investors have recently made changes to their positions in APLS. Bank of New York Mellon Corp increased its position in Apellis Pharmaceuticals by 6.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 345,195 shares of the company's stock valued at $13,242,000 after buying an additional 22,273 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Apellis Pharmaceuticals by 15.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,614 shares of the company's stock worth $752,000 after purchasing an additional 2,635 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in Apellis Pharmaceuticals during the 2nd quarter worth approximately $907,000. Peregrine Capital Management LLC grew its position in Apellis Pharmaceuticals by 23.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 114,279 shares of the company's stock worth $4,384,000 after purchasing an additional 21,619 shares during the last quarter. Finally, nVerses Capital LLC increased its stake in Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company's stock valued at $107,000 after purchasing an additional 2,100 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.
Several brokerages have weighed in on APLS. Evercore ISI raised Apellis Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, October 31st. Citigroup lowered their price target on Apellis Pharmaceuticals from $63.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. Morgan Stanley began coverage on shares of Apellis Pharmaceuticals in a research report on Thursday, November 21st. They set an "equal weight" rating and a $31.00 price objective on the stock. HC Wainwright reduced their target price on shares of Apellis Pharmaceuticals from $83.00 to $57.00 and set a "buy" rating on the stock in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group cut their price target on shares of Apellis Pharmaceuticals from $71.00 to $36.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.94.
View Our Latest Analysis on APLS
NASDAQ:APLS opened at $33.19 on Monday. The firm has a 50-day simple moving average of $29.65 and a 200-day simple moving average of $34.72. Apellis Pharmaceuticals has a one year low of $24.34 and a one year high of $73.80. The firm has a market cap of $4.13 billion, a P/E ratio of -16.35 and a beta of 0.94. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36.
Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.14). The company had revenue of $196.83 million during the quarter, compared to analysts' expectations of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The company's revenue was up 78.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.17) earnings per share. Equities analysts anticipate that Apellis Pharmaceuticals will post -1.72 EPS for the current fiscal year.
Apellis Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. It offers EMPAVELI for the treatment of paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy secondary to age-related macular degeneration and geographic atrophy (GA).
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