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

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

A number of other analysts also recently commented on APLS. HC Wainwright restated a “buy” rating and set a $57.00 price objective on shares of Apellis Pharmaceuticals in a report on Monday. 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 note on Wednesday, November 6th. Scotiabank cut their price objective on Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 target price on shares of Apellis Pharmaceuticals in a report on Wednesday, January 29th. Finally, Oppenheimer cut their price target on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.71.

Apellis Pharmaceuticals Stock Down 4.3 %

APLS opened at $24.06 on Monday. Apellis Pharmaceuticals has a 12 month low of $23.81 and a 12 month high of $66.00. The business has a 50-day moving average of $29.88 and a two-hundred day moving average of $31.48. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -11.85 and a beta of 0.96.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its 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. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business had revenue of $212.50 million for the quarter, compared to analysts’ expectations of $197.92 million. During the same period last year, the company earned ($0.73) earnings per share. The company’s quarterly revenue was up 45.2% on a year-over-year basis. On average, research analysts expect that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In related news, insider Caroline Baumal sold 2,816 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the transaction, the insider now owns 55,560 shares of the company’s stock, valued at approximately $1,878,483.60. This represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO James George Chopas sold 1,096 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Wednesday, January 22nd. The stock was 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 in the company, valued at $1,464,839.34. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,365 shares of company stock worth $1,810,479 over the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Avoro Capital Advisors LLC raised its stake in shares of Apellis Pharmaceuticals by 10.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 12,222,222 shares of the company’s stock valued at $390,011,000 after purchasing an additional 1,111,111 shares in the last quarter. Vanguard Group Inc. raised its stake in Apellis Pharmaceuticals by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,046,025 shares of the company’s stock valued at $320,569,000 after buying an additional 230,450 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Apellis Pharmaceuticals by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock worth $112,036,000 after buying an additional 735,160 shares during the last quarter. Braidwell LP grew its position in shares of Apellis Pharmaceuticals by 410.8% in the 3rd quarter. Braidwell LP now owns 3,125,183 shares of the company’s stock worth $90,130,000 after acquiring an additional 2,513,383 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of Apellis Pharmaceuticals by 51.6% in the 4th quarter. Jennison Associates LLC now owns 2,760,404 shares of the company’s stock worth $88,084,000 after acquiring an additional 939,289 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

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).