PSP Research LLC Makes New $549,000 Investment in Apellis Pharmaceuticals, Inc. $APLS

PSP Research LLC purchased a new position in shares of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) during the 4th quarter, HoldingsChannel reports. The firm purchased 21,866 shares of the company’s stock, valued at approximately $549,000. Apellis Pharmaceuticals accounts for about 0.5% of PSP Research LLC’s holdings, making the stock its 11th largest holding.

Several other hedge funds also recently modified their holdings of APLS. AQR Capital Management LLC increased its stake in shares of Apellis Pharmaceuticals by 46.6% during the 2nd quarter. AQR Capital Management LLC now owns 5,976,414 shares of the company’s stock worth $103,452,000 after purchasing an additional 1,898,995 shares during the last quarter. Polar Capital Holdings Plc increased its stake in shares of Apellis Pharmaceuticals by 96.0% during the 3rd quarter. Polar Capital Holdings Plc now owns 2,650,230 shares of the company’s stock worth $59,975,000 after purchasing an additional 1,298,055 shares during the last quarter. Millennium Management LLC increased its stake in shares of Apellis Pharmaceuticals by 563.7% during the 3rd quarter. Millennium Management LLC now owns 1,343,726 shares of the company’s stock worth $30,409,000 after purchasing an additional 1,141,274 shares during the last quarter. Deep Track Capital LP increased its stake in shares of Apellis Pharmaceuticals by 14.3% during the 3rd quarter. Deep Track Capital LP now owns 8,000,382 shares of the company’s stock worth $181,049,000 after purchasing an additional 1,000,382 shares during the last quarter. Finally, ING Groep NV increased its stake in shares of Apellis Pharmaceuticals by 281.0% during the 3rd quarter. ING Groep NV now owns 1,174,500 shares of the company’s stock worth $26,579,000 after purchasing an additional 866,200 shares during the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Apellis Pharmaceuticals Stock Performance

NASDAQ:APLS opened at $41.03 on Wednesday. Apellis Pharmaceuticals, Inc. has a 1 year low of $16.10 and a 1 year high of $41.14. The firm’s fifty day simple moving average is $33.61 and its 200 day simple moving average is $26.28. The company has a current ratio of 3.63, a quick ratio of 3.16 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $5.25 billion, a PE ratio of 40.23 and a beta of -0.24.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.44. Apellis Pharmaceuticals had a net margin of 12.06% and a return on equity of 39.71%. The company had revenue of $268.30 million for the quarter, compared to the consensus estimate of $208.91 million. On average, sell-side analysts anticipate that Apellis Pharmaceuticals, Inc. will post -1.14 EPS for the current year.

Analysts Set New Price Targets

APLS has been the topic of several analyst reports. Mizuho increased their price target on shares of Apellis Pharmaceuticals from $20.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. William Blair lowered shares of Apellis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. JPMorgan Chase & Co. restated a “neutral” rating and set a $41.00 price target (up from $37.00) on shares of Apellis Pharmaceuticals in a research note on Wednesday, April 1st. Bank of America upgraded shares of Apellis Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Wednesday, January 21st. Finally, Royal Bank Of Canada lowered their target price on shares of Apellis Pharmaceuticals from $22.00 to $21.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 25th. Three research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals presently has an average rating of “Hold” and an average price target of $35.72.

Apellis Pharmaceuticals Profile

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.