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

Apellis Pharmaceuticals (NASDAQ:APLS) was downgraded by investment analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Tuesday,Briefing.com Automated Import reports. They currently have a $36.00 price objective on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 6.95% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Mizuho reduced their price target on Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Evercore ISI raised Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Piper Sandler lowered their price target on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Scotiabank reduced their price objective on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. Finally, Robert W. Baird decreased their target price 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. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.94.

Apellis Pharmaceuticals Price Performance

APLS opened at $33.66 on Tuesday. The firm has a 50-day moving average price of $29.78 and a 200-day moving average price of $34.67. Apellis Pharmaceuticals has a twelve month low of $24.34 and a twelve month high of $73.80. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of -16.58 and a beta of 0.94.

Apellis Pharmaceuticals (NASDAQ:APLS) last released 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 business had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. During the same period last year, the business posted ($1.17) earnings per share. The firm’s quarterly revenue was up 78.3% on a year-over-year basis. Equities analysts expect that Apellis Pharmaceuticals will post -1.72 EPS for the current year.

Institutional Trading of Apellis Pharmaceuticals

Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in shares of Apellis Pharmaceuticals by 6.9% during the second quarter. Bank of New York Mellon Corp now owns 345,195 shares of the company’s stock valued at $13,242,000 after acquiring an additional 22,273 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Apellis Pharmaceuticals by 15.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,614 shares of the company’s stock worth $752,000 after acquiring an additional 2,635 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Apellis Pharmaceuticals in the second quarter worth $907,000. Peregrine Capital Management LLC boosted its position in shares of Apellis Pharmaceuticals by 23.3% during the second quarter. Peregrine Capital Management LLC now owns 114,279 shares of the company’s stock valued at $4,384,000 after buying an additional 21,619 shares during the last quarter. Finally, nVerses Capital LLC raised its position in Apellis Pharmaceuticals by 300.0% in 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 last quarter. 96.29% of the stock is owned by institutional investors.

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).