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

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

Other analysts have also issued research reports about the stock. Wedbush boosted their price objective on shares of Apellis Pharmaceuticals from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Jefferies Financial Group restated a “buy” rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Needham & Company LLC decreased their price target on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group reduced their target price on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, HC Wainwright dropped their price objective on Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Apellis Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

Apellis Pharmaceuticals Price Performance

APLS opened at $29.98 on Wednesday. The stock 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 one year low of $24.34 and a one year high of $73.80. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 4.18. The company’s 50 day simple moving average is $31.02 and its 200-day simple moving average is $36.94.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data 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). The firm had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm’s revenue for the quarter was up 78.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.17) EPS. Sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. This trade 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 accessible through the SEC website. 6.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wolverine Asset Management LLC acquired 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 3rd quarter worth approximately $56,000. KBC Group NV boosted its stake in shares of 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 purchasing an additional 679 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in Apellis Pharmaceuticals during the first quarter worth $89,000. Finally, nVerses Capital LLC boosted its position in Apellis Pharmaceuticals by 300.0% during the second 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).