Apellis Pharmaceuticals (NASDAQ:APLS) Given New $74.00 Price Target at The Goldman Sachs Group

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price upped by The Goldman Sachs Group from $66.00 to $74.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on the stock. Wells Fargo & Company decreased their price objective on shares of Apellis Pharmaceuticals from $57.00 to $48.00 and set an equal weight rating for the company in a research report on Thursday, May 23rd. Wedbush dropped their price objective on shares of Apellis Pharmaceuticals from $67.00 to $57.00 and set a neutral rating on the stock in a report on Wednesday, April 17th. Citigroup lowered their price target on Apellis Pharmaceuticals from $67.00 to $60.00 and set a buy rating for the company in a research report on Wednesday, May 8th. UBS Group cut their price objective on Apellis Pharmaceuticals from $89.00 to $85.00 and set a buy rating on the stock in a report on Wednesday, May 8th. Finally, Piper Sandler began coverage on Apellis Pharmaceuticals in a research note on Friday, May 31st. They issued a neutral rating and a $46.00 price objective for the company. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $72.63.

Apellis Pharmaceuticals Stock Down 1.7 %

APLS traded down $0.65 during trading on Friday, hitting $37.01. The stock had a trading volume of 1,885,232 shares, compared to its average volume of 1,541,113. The stock has a 50 day simple moving average of $38.70 and a two-hundred day simple moving average of $49.60. The company has a market capitalization of $4.49 billion, a PE ratio of -10.70 and a beta of 0.88. The company has a debt-to-equity ratio of 1.73, a quick ratio of 3.02 and a current ratio of 5.08. Apellis Pharmaceuticals has a twelve month low of $23.86 and a twelve month high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.03. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The firm had revenue of $199.70 million during the quarter, compared to analysts’ expectations of $190.89 million. During the same quarter last year, the firm earned ($1.02) EPS. The business’s quarterly revenue was up 110.2% on a year-over-year basis. On average, research analysts predict that Apellis Pharmaceuticals will post -1.14 earnings per share for the current year.

Insider Activity

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $39.24, for a total transaction of $1,451,880.00. Following the completion of the transaction, the director now directly owns 136,998 shares of the company’s stock, valued at approximately $5,375,801.52. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Apellis Pharmaceuticals by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 904,409 shares of the company’s stock valued at $54,138,000 after purchasing an additional 25,052 shares during the period. Norges Bank purchased a new position in Apellis Pharmaceuticals in the 4th quarter valued at about $56,640,000. Great Lakes Advisors LLC purchased a new stake in Apellis Pharmaceuticals during the 4th quarter worth approximately $12,461,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Apellis Pharmaceuticals during the 1st quarter worth approximately $3,218,000. Finally, Bellevue Group AG boosted its stake in shares of Apellis Pharmaceuticals by 3.5% in the fourth quarter. Bellevue Group AG now owns 821,800 shares of the company’s stock worth $49,193,000 after acquiring an additional 27,959 shares during the last quarter. 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).