The Goldman Sachs Group Lowers Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $36.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective decreased by The Goldman Sachs Group from $71.00 to $36.00 in a research report released on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

APLS has been the topic of several other reports. HC Wainwright dropped their target price on Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on 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 initiated coverage on Apellis Pharmaceuticals in a report on Wednesday, October 16th. They issued an “outperform” rating for the company. Bank of America reduced their price objective on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company dropped their price target on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.06.

Apellis Pharmaceuticals Price Performance

Shares of APLS stock opened at $29.98 on Wednesday. The firm has a market capitalization of $3.73 billion, a P/E ratio of -14.77 and a beta of 0.87. Apellis Pharmaceuticals has a 52-week low of $24.34 and a 52-week high of $73.80. The stock has a 50 day moving average price of $31.02 and a 200 day moving average price of $36.94. The company has a debt-to-equity ratio of 1.91, a quick ratio of 4.18 and a current ratio of 4.36.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $200.00 million. During the same quarter in the prior year, the company posted ($1.17) earnings per share. Apellis Pharmaceuticals’s quarterly revenue was up 78.3% compared to the same quarter last year. As a group, sell-side analysts predict that Apellis Pharmaceuticals will post -1.5 earnings per share for the current year.

Insider Activity at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the sale, the director now owns 100,000 shares in the company, valued at $3,623,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Wolverine Asset Management LLC purchased a new position in shares of Apellis Pharmaceuticals in the third quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in shares of Apellis Pharmaceuticals in the third quarter worth $56,000. KBC Group NV raised its stake in shares of Apellis Pharmaceuticals by 34.8% during the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after purchasing an additional 679 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Apellis Pharmaceuticals in the first quarter worth approximately $89,000. Finally, nVerses Capital LLC increased its holdings in shares of Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after acquiring an additional 2,100 shares during the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

About Apellis Pharmaceuticals

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).