Apellis Pharmaceuticals (APLS) Receives a Buy from Raymond James

Raymond James analyst Steven Seedhouse maintained a Buy rating on Apellis Pharmaceuticals (APLSResearch Report) yesterday. The company’s shares closed last Friday at $44.26.

According to TipRanks.com, Seedhouse is a 3-star analyst with an average return of 6.4% and a 39.7% success rate. Seedhouse covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Alexion Pharmaceuticals, and NGM Biopharmaceuticals.

Currently, the analyst consensus on Apellis Pharmaceuticals is a Strong Buy with an average price target of $70.89, which is a 56.2% upside from current levels. In a report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock.

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Based on Apellis Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $184 million. In comparison, last year the company had a GAAP net loss of $169 million.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is neutral on the stock.

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Apellis Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company, which develops novel therapeutic compounds. It develops complement immunotherapies for the treatment of complement-dependent autoimmune and inflammatory diseases through APL-2 product. The company was founded by Candace Rose Depp, Pascal Deschatelets, Cedric Francois, Alec Machiels on September 25, 2009 and is headquartered in Waltham, MA.