Stock Track | Apellis Pharmaceuticals Plummets 5.17% Intraday Following Analyst Price Target Cuts and Neutral Ratings

Stock Track02-25 23:53

Apellis Pharmaceuticals Inc. (APLS) saw its stock price plummet by 5.17% during intraday trading on Wednesday, reflecting negative market sentiment toward the biopharmaceutical company.

The sharp decline appears to be driven by analyst actions, including Wedbush lowering its price target on Apellis to $18 from $20 while maintaining a Neutral rating on the shares. The firm referenced the company's Q4 report in its assessment.

Other analysts also maintained cautious stances, with RBC Capital keeping a Sector Perform rating and Barclays maintaining a Hold rating with a $24 price target. These neutral-to-cautious ratings collectively contributed to the selling pressure on the stock during the trading session.

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