Apellis Pharmaceuticals (NASDAQ:APLS) Stock Rating Lowered by The Goldman Sachs Group

The Goldman Sachs Group cut shares of Apellis Pharmaceuticals (NASDAQ:APLS) from a buy rating to a neutral rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. The Goldman Sachs Group currently has $36.00 target price on the stock.

A number of other equities research analysts have also issued reports on APLS. Bank of America dropped their target price on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company lowered their price objective on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. JPMorgan Chase & Co. reduced their target price on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a report on Friday, September 13th. William Blair started coverage on shares of Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued an “outperform” rating on the stock. Finally, Robert W. Baird cut their price target on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Apellis Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $49.94.

Apellis Pharmaceuticals Stock Down 2.6 %

Apellis Pharmaceuticals stock opened at $33.14 on Tuesday. Apellis Pharmaceuticals has a twelve month low of $24.34 and a twelve month high of $73.80. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The company has a 50 day moving average of $30.06 and a 200-day moving average of $34.64. The stock has a market capitalization of $4.12 billion, a PE ratio of -16.33 and a beta of 0.94.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The firm had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same quarter last year, the company posted ($1.17) EPS. Apellis Pharmaceuticals’s revenue for the quarter was up 78.3% on a year-over-year basis. On average, equities research analysts anticipate that Apellis Pharmaceuticals will post -1.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of APLS. Exome Asset Management LLC lifted its stake in shares of Apellis Pharmaceuticals by 114.0% during the 3rd quarter. Exome Asset Management LLC now owns 100,367 shares of the company’s stock worth $2,895,000 after buying an additional 53,467 shares during the last quarter. Virtu Financial LLC acquired a new position in Apellis Pharmaceuticals in the 3rd quarter valued at about $390,000. Old West Investment Management LLC bought a new position in Apellis Pharmaceuticals in the 3rd quarter valued at about $2,953,000. Toronto Dominion Bank lifted its position in Apellis Pharmaceuticals by 4.2% during the third quarter. Toronto Dominion Bank now owns 25,622 shares of the company’s stock worth $739,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Apellis Pharmaceuticals by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,810,526 shares of the company’s stock worth $52,229,000 after acquiring an additional 22,609 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. It offers EMPAVELI for the treatment of paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy secondary to age-related macular degeneration and geographic atrophy (GA).