The Goldman Sachs Group Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $77.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target lowered by The Goldman Sachs Group from $90.00 to $77.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 89.19% from the company’s previous close.

A number of other brokerages have also issued reports on APLS. Wells Fargo & Company dropped 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 report on Thursday, May 23rd. Needham & Company LLC restated a “buy” rating and set a $85.00 price target on shares of Apellis Pharmaceuticals in a report on Wednesday, May 8th. Citigroup lowered their price target on shares of Apellis Pharmaceuticals from $67.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. HC Wainwright restated a “buy” rating and set a $92.00 price target on shares of Apellis Pharmaceuticals in a report on Tuesday, May 28th. Finally, Robert W. Baird restated an “outperform” rating and set a $100.00 price target on shares of Apellis Pharmaceuticals in a report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.75.

Apellis Pharmaceuticals Price Performance

Shares of APLS stock traded down $0.45 on Wednesday, reaching $40.70. The company had a trading volume of 153,987 shares, compared to its average volume of 1,480,543. The stock has a market capitalization of $4.94 billion, a PE ratio of -11.77 and a beta of 0.88. The company has a quick ratio of 3.02, a current ratio of 3.77 and a debt-to-equity ratio of 0.35. Apellis Pharmaceuticals has a one year low of $19.83 and a one year high of $73.80. The business’s 50-day moving average is $40.20 and its 200 day moving average is $53.03.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.54). The business had revenue of $172.33 million during the quarter, compared to analyst estimates of $163.37 million. Apellis Pharmaceuticals had a negative net margin of 79.67% and a negative return on equity of 160.77%. The firm’s quarterly revenue was up 284.3% on a year-over-year basis. During the same quarter last year, the business earned ($1.56) EPS. Equities research analysts forecast that Apellis Pharmaceuticals will post -1.08 EPS for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

In related news, insider Pascal Deschatelets sold 78,907 shares of Apellis Pharmaceuticals stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $42.35, for a total value of $3,341,711.45. Following the completion of the sale, the insider now owns 1,115,983 shares of the company’s stock, valued at approximately $47,261,880.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 136,998 shares in the company, valued at approximately $5,375,801.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Pascal Deschatelets sold 78,907 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $42.35, for a total value of $3,341,711.45. Following the transaction, the insider now owns 1,115,983 shares in the company, valued at $47,261,880.05. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC bought a new position in Apellis Pharmaceuticals during the 1st quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Apellis Pharmaceuticals in the 1st quarter worth about $89,000. CWM LLC boosted its holdings in shares of Apellis Pharmaceuticals by 299.9% in the 2nd quarter. CWM LLC now owns 4,151 shares of the company’s stock worth $159,000 after buying an additional 3,113 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Apellis Pharmaceuticals during the fourth quarter valued at about $205,000. Finally, HC Advisors LLC purchased a new stake in Apellis Pharmaceuticals during the fourth quarter valued at about $210,000. 96.29% of the stock is currently 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).