Fintel reports that on September 8, 2023, B of A Securities maintained coverage of Apellis Pharmaceuticals (NASDAQ:APLS) with a Neutral recommendation.
Analyst Price Forecast Suggests 60.15% Upside
As of August 31, 2023, the average one-year price target for Apellis Pharmaceuticals is 66.59. The forecasts range from a low of 29.29 to a high of $99.75. The average price target represents an increase of 60.15% from its latest reported closing price of 41.58.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Apellis Pharmaceuticals is 222MM, an increase of 20.12%. The projected annual non-GAAP EPS is -5.42.
What is the Fund Sentiment?
There are 722 funds or institutions reporting positions in Apellis Pharmaceuticals. This is an increase of 57 owner(s) or 8.57% in the last quarter. Average portfolio weight of all funds dedicated to APLS is 0.44%, an increase of 13.75%. Total shares owned by institutions decreased in the last three months by 5.16% to 118,472K shares. 
The put/call ratio of APLS is 0.43, indicating a bullish outlook.
What are Other Shareholders Doing?
Avoro Capital Advisors holds 11,111K shares representing 9.44% ownership of the company. No change in the last quarter.
Price T Rowe Associates holds 7,072K shares representing 6.01% ownership of the company. In it's prior filing, the firm reported owning 4,590K shares, representing an increase of 35.10%. The firm increased its portfolio allocation in APLS by 346.90% over the last quarter.
Wellington Management Group Llp holds 6,664K shares representing 5.66% ownership of the company. In it's prior filing, the firm reported owning 8,278K shares, representing a decrease of 24.22%. The firm increased its portfolio allocation in APLS by 6.10% over the last quarter.
T. Rowe Price Investment Management holds 5,639K shares representing 4.79% ownership of the company. In it's prior filing, the firm reported owning 5,761K shares, representing a decrease of 2.16%. The firm increased its portfolio allocation in APLS by 28.45% over the last quarter.
EcoR1 Capital holds 5,452K shares representing 4.63% ownership of the company. No change in the last quarter.
Apellis Pharmaceuticals Background Information
(This description is provided by the company.)
Apellis Pharmaceuticals, Inc. is a global biopharmaceutical company that is committed to leveraging courageous science, creativity, and compassion to deliver life-changing therapies. Leaders in targeted C3 therapies, the company aims to develop transformative therapies for a broad range of debilitating diseases that are driven by excessive activation of the complement cascade, including those within hematology, ophthalmology, nephrology, and neurology.
Additional reading:
- Apellis Pharmaceuticals Reports Second Quarter 2023 Financial Results
- Form of Pre-Funded Warrant
- Apellis Pharmaceuticals Announces Pricing of Public Offering of Common Stock and
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