Citi Reaffirms Their Buy Rating on Apellis Pharmaceuticals (APLS)

In a report released today, Yigal Nochomovitz from Citi maintained a Buy rating on Apellis Pharmaceuticals, with a price target of $44.00.

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Nochomovitz covers the Healthcare sector, focusing on stocks such as Olema Pharmaceuticals, Zenas BioPharma, Inc., and LENZ Therapeutics. According to TipRanks, Nochomovitz has an average return of 2.2% and a 38.74% success rate on recommended stocks.

In addition to Citi, Apellis Pharmaceuticals also received a Buy from H.C. Wainwright’s Douglas Tsao in a report issued today. However, on the same day, TipRanks – xAI reiterated a Hold rating on Apellis Pharmaceuticals (NASDAQ: APLS).

Based on Apellis Pharmaceuticals’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $458.58 million and a net profit of $215.72 million. In comparison, last year the company earned a revenue of $196.83 million and had a GAAP net loss of $57.45 million

Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of APLS in relation to earlier this year. Earlier this month, Mark Jeffrey DeLong, the Chief Business & Strat Officer of APLS sold 368.00 shares for a total of $8,151.20.