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

Apellis Pharmaceuticals (NASDAQ:APLS - Free Report) had its target price decreased by The Goldman Sachs Group from $36.00 to $32.00 in a report issued on Monday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other research firms have also issued reports on APLS. Piper Sandler dropped their price target on Apellis Pharmaceuticals from $40.00 to $32.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. Needham & Company LLC decreased their target price on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, November 6th. HC Wainwright restated a "buy" rating and set a $57.00 price target on shares of Apellis Pharmaceuticals in a research report on Monday. Royal Bank of Canada reissued a "sector perform" rating and issued a $26.00 price objective on shares of Apellis Pharmaceuticals in a research note on Wednesday, January 29th. Finally, Oppenheimer dropped their target price on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Apellis Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.53.

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Apellis Pharmaceuticals Stock Down 2.6 %

Apellis Pharmaceuticals stock traded down $0.68 during trading on Monday, reaching $25.32. 1,186,955 shares of the company's stock were exchanged, compared to its average volume of 1,921,061. Apellis Pharmaceuticals has a 52-week low of $23.77 and a 52-week high of $64.33. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of -12.47 and a beta of 0.93. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. The company's 50-day moving average is $29.38 and its two-hundred day moving average is $31.26.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its earnings results on Friday, February 28th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business had revenue of $212.50 million during the quarter, compared to the consensus estimate of $197.92 million. During the same period in the prior year, the firm earned ($0.73) earnings per share. The business's quarterly revenue was up 45.2% compared to the same quarter last year. On average, analysts predict that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Transactions at Apellis Pharmaceuticals

In other news, CAO James George Chopas sold 1,096 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total value of $33,351.28. Following the completion of the sale, the chief accounting officer now directly owns 48,138 shares of the company's stock, valued at $1,464,839.34. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Caroline Baumal sold 2,816 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the transaction, the insider now owns 55,560 shares in the company, valued at approximately $1,878,483.60. This trade represents a 4.82 % decrease in their position. 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 three months. Company insiders own 6.80% of the company's stock.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of Apellis Pharmaceuticals by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company's stock worth $112,036,000 after purchasing an additional 735,160 shares during the period. AlphaCentric Advisors LLC bought a new position in Apellis Pharmaceuticals in the 3rd quarter valued at about $1,370,000. GSA Capital Partners LLP acquired a new position in shares of Apellis Pharmaceuticals in the 3rd quarter valued at approximately $824,000. BNP Paribas Financial Markets lifted its holdings in shares of Apellis Pharmaceuticals by 52.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 159,700 shares of the company's stock worth $4,606,000 after acquiring an additional 55,282 shares during the period. Finally, Old West Investment Management LLC acquired a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter worth approximately $2,953,000. 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).