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

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price cut by investment analysts at The Goldman Sachs Group from $71.00 to $36.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 29.26% from the company’s current price.

Several other equities research analysts have also issued reports on APLS. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Mizuho lowered their target price on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Piper Sandler lowered their target price on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday. Royal Bank of Canada restated a “sector perform” rating and set a $25.00 price target on shares of Apellis Pharmaceuticals in a report on Monday. Finally, Robert W. Baird reduced their price target on Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.76.

Apellis Pharmaceuticals Stock Down 0.8 %

Shares of APLS stock traded down $0.23 during trading hours on Wednesday, reaching $27.85. The company had a trading volume of 1,291,977 shares, compared to its average volume of 1,768,941. Apellis Pharmaceuticals has a 12 month low of $24.34 and a 12 month high of $73.80. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18. The business has a fifty day simple moving average of $31.58 and a 200-day simple moving average of $37.26. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -10.17 and a beta of 0.87.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The business had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The business’s revenue was up 78.3% compared to the same quarter last year. During the same quarter last year, the business posted ($1.17) earnings per share. On average, research analysts expect that Apellis Pharmaceuticals will post -1.4 earnings per share for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the sale, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Wolverine Asset Management LLC acquired a new stake in Apellis Pharmaceuticals in the 3rd quarter valued at about $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Apellis Pharmaceuticals in the 1st quarter valued at about $89,000. Capital Performance Advisors LLP acquired a new stake in Apellis Pharmaceuticals in the 3rd quarter valued at about $56,000. KBC Group NV raised its holdings in Apellis Pharmaceuticals by 34.8% in the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after acquiring an additional 679 shares during the last quarter. Finally, nVerses Capital LLC raised its holdings in Apellis Pharmaceuticals by 300.0% in 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. 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).