Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $32.00 by Analysts at The Goldman Sachs Group

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective cut by The Goldman Sachs Group from $36.00 to $32.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities analysts also recently issued reports on APLS. Robert W. Baird reduced their price target on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Citigroup reduced their target price on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. HC Wainwright restated a “buy” rating and issued a $57.00 price target on shares of Apellis Pharmaceuticals in a research note on Monday. Morgan Stanley assumed coverage on Apellis Pharmaceuticals in a report on Thursday, November 21st. They set an “equal weight” rating and a $31.00 price target on the stock. Finally, Wells Fargo & Company decreased their price objective on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.71.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS opened at $24.06 on Monday. 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 firm’s 50-day moving average price is $29.88 and its two-hundred day moving average price is $31.48. Apellis Pharmaceuticals has a 52-week low of $23.81 and a 52-week high of $66.00. The stock has a market capitalization of $2.99 billion, a P/E ratio of -11.85 and a beta of 0.96.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.08. The business had revenue of $212.50 million for the quarter, compared to the consensus estimate of $197.92 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The business’s revenue was up 45.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.73) EPS. As a group, sell-side analysts forecast that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, CEO Cedric Francois sold 2,824 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $29.52, for a total value of $83,364.48. Following the transaction, the chief executive officer now owns 415,695 shares in the company, valued at approximately $12,271,316.40. The trade was a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO James George Chopas sold 1,096 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total value of $33,351.28. Following the sale, the chief accounting officer now owns 48,138 shares of the company’s stock, valued at $1,464,839.34. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,365 shares of company stock worth $1,810,479 in the last ninety days. 6.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV lifted its stake in Apellis Pharmaceuticals by 34.8% during the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after buying an additional 679 shares in the last quarter. Xponance Inc. lifted its position in shares of Apellis Pharmaceuticals by 5.6% in the 4th quarter. Xponance Inc. now owns 14,072 shares of the company’s stock valued at $449,000 after acquiring an additional 749 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Apellis Pharmaceuticals by 2,707.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after acquiring an additional 758 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Apellis Pharmaceuticals by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock worth $130,000 after purchasing an additional 781 shares during the period. Finally, Woodline Partners LP grew its position in Apellis Pharmaceuticals by 0.5% during the 4th quarter. Woodline Partners LP now owns 189,477 shares of the company’s stock worth $6,046,000 after purchasing an additional 913 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

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).