Apellis Pharmaceuticals (NASDAQ:APLS) Cut to “Neutral” at The Goldman Sachs Group

The Goldman Sachs Group cut shares of Apellis Pharmaceuticals (NASDAQ:APLS) from a buy rating to a neutral rating in a research note released on Tuesday morning, Marketbeat reports. The brokerage currently has $36.00 target price on the stock.

APLS has been the topic of a number of other reports. Evercore ISI upgraded shares of Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. Citigroup reduced their target price on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Bank of America dropped their price target on Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Robert W. Baird reduced their price objective 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. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $25.00 target price on shares of Apellis Pharmaceuticals in a research note on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $49.94.

Apellis Pharmaceuticals Trading Down 2.6 %

APLS stock opened at $33.14 on Tuesday. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. The firm has a market cap of $4.12 billion, a P/E ratio of -16.33 and a beta of 0.94. Apellis Pharmaceuticals has a 1-year low of $24.34 and a 1-year high of $73.80. The business’s 50 day moving average is $30.06 and its 200-day moving average is $34.64.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share (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 quarter in the prior year, the company earned ($1.17) earnings per share. The business’s revenue was up 78.3% compared to the same quarter last year. Equities analysts anticipate that Apellis Pharmaceuticals will post -1.72 earnings per share for the current fiscal year.

Institutional Trading of Apellis Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Wolverine Asset Management LLC acquired a new position in Apellis Pharmaceuticals during the third quarter valued at approximately $27,000. True Wealth Design LLC bought a new position in shares of Apellis Pharmaceuticals during the third quarter worth $27,000. Capital Performance Advisors LLP acquired a new position in shares of Apellis Pharmaceuticals in the 3rd quarter valued at $56,000. KBC Group NV increased its position 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 buying an additional 679 shares in the last quarter. Finally, nVerses Capital LLC raised its stake in Apellis Pharmaceuticals by 300.0% during the 2nd quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after buying an additional 2,100 shares during the period. 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).