J P Morgan Chase & Co Initiates Coverage on Apellis Pharmaceuticals (APLS)

Research analysts at J P Morgan Chase & Co assumed coverage on shares of Apellis Pharmaceuticals (NASDAQ:APLS) in a note issued to investors on Monday. The brokerage set an “overweight” rating and a $31.00 price target on the stock. J P Morgan Chase & Co’s price objective would suggest a potential upside of 125.78% from the company’s previous close.

Shares of Apellis Pharmaceuticals (NASDAQ:APLS) opened at $13.73 on Monday. Apellis Pharmaceuticals has a 1-year low of $12.45 and a 1-year high of $15.41.

In other news, major shareholder Global Strategic Fund I. Venbio purchased 127,515 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was acquired at an average price of $14.00 per share, for a total transaction of $1,785,210.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company focuses on the discovery and development of therapeutic compounds for autoimmune and inflammatory diseases. The Company’s lead compounds are designed to inhibit complement component 3 (C3), the central protein in the complement cascade.

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