Apellis Pharmaceuticals (NASDAQ:APLS) Stock Rating Lowered by The Goldman Sachs Group

Apellis Pharmaceuticals (NASDAQ:APLS) was downgraded by equities researchers at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports. They currently have a $36.00 price target on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 6.95% from the stock’s current price.

APLS has been the topic of several other research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $25.00 price objective on shares of Apellis Pharmaceuticals in a report on Monday, November 4th. Robert W. Baird dropped their price target on Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Piper Sandler reduced their price objective on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Scotiabank lowered their target price on Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Finally, HC Wainwright cut their target price on Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.94.

Apellis Pharmaceuticals Trading Up 1.4 %

NASDAQ APLS opened at $33.66 on Tuesday. 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 3.73. The business has a 50 day simple moving average of $29.78 and a 200 day simple moving average of $34.67. The stock has a market capitalization of $4.19 billion, a P/E ratio of -16.58 and a beta of 0.94.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS 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 company had revenue of $196.83 million for the quarter, compared to analyst estimates of $200.00 million. During the same period last year, the business earned ($1.17) EPS. The business’s quarterly revenue was up 78.3% compared to the same quarter last year. Research analysts expect that Apellis Pharmaceuticals will post -1.72 earnings per share for the current year.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighVista Strategies LLC increased its holdings in Apellis Pharmaceuticals by 4.1% during the second quarter. HighVista Strategies LLC now owns 7,566 shares of the company’s stock worth $290,000 after buying an additional 300 shares during the last quarter. Amalgamated Bank grew its position in shares of Apellis Pharmaceuticals by 5.4% during the 2nd quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock valued at $268,000 after acquiring an additional 359 shares during the period. KBC Group NV increased 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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, Wolverine Asset Management LLC bought a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter worth approximately $27,000. Hedge funds and other institutional investors 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).