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

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective dropped by research analysts at The Goldman Sachs Group from $36.00 to $32.00 in a report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 27.74% from the company’s current price.

Several other brokerages have also recently commented on APLS. Robert W. Baird reduced their target price on Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Needham & Company LLC reduced their target price on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Citigroup reduced their target price on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Wells Fargo & Company cut 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. Finally, Piper Sandler cut their price objective on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.53.

Apellis Pharmaceuticals Trading Up 4.1 %

Shares of Apellis Pharmaceuticals stock opened at $25.05 on Monday. The company’s fifty day simple moving average is $29.70 and its 200-day simple moving average is $31.39. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -12.34 and a beta of 0.96. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals has a 1 year low of $23.77 and a 1 year high of $64.58.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data 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 net margin of 34.97% and a negative return on equity of 103.11%. Apellis Pharmaceuticals’s quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.73) earnings per share. As a group, sell-side analysts expect that Apellis Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity at Apellis Pharmaceuticals

In related news, CEO Cedric Francois sold 2,824 shares of Apellis Pharmaceuticals stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $29.52, for a total value of $83,364.48. Following the completion of the sale, the chief executive officer now directly owns 415,695 shares in the company, valued at $12,271,316.40. This trade represents a 0.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Timothy Eugene Sullivan sold 2,170 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $28.70, for a total value of $62,279.00. Following the completion of the sale, the chief financial officer now owns 88,100 shares of the company’s stock, valued at approximately $2,528,470. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,365 shares of company stock valued at $1,810,479 over the last ninety days. 6.80% of the stock is owned by insiders.

Institutional Trading of Apellis Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Braidwell LP grew its position in shares of Apellis Pharmaceuticals by 410.8% during the 3rd quarter. Braidwell LP now owns 3,125,183 shares of the company’s stock worth $90,130,000 after buying an additional 2,513,383 shares during the period. Boxer Capital Management LLC acquired a new position in shares of Apellis Pharmaceuticals during the 4th quarter worth about $45,504,000. National Bank of Canada FI grew its position in shares of Apellis Pharmaceuticals by 266,361.5% during the 4th quarter. National Bank of Canada FI now owns 1,385,600 shares of the company’s stock worth $44,214,000 after buying an additional 1,385,080 shares during the period. Royal Bank of Canada grew its position in shares of Apellis Pharmaceuticals by 969.6% during the 4th quarter. Royal Bank of Canada now owns 1,518,827 shares of the company’s stock worth $48,465,000 after buying an additional 1,376,832 shares during the period. Finally, Cibc World Markets Corp acquired a new position in shares of Apellis Pharmaceuticals during the 4th quarter worth about $41,014,000. 96.29% of the stock is currently 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).