The Goldman Sachs Group Increases Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $74.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective boosted by The Goldman Sachs Group from $66.00 to $74.00 in a research note issued to investors on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company cut their target price on Apellis Pharmaceuticals from $57.00 to $48.00 and set an equal weight rating on the stock in a research note on Thursday, May 23rd. HC Wainwright cut their price objective on shares of Apellis Pharmaceuticals from $92.00 to $83.00 and set a buy rating on the stock in a research report on Friday, August 2nd. Jefferies Financial Group reissued a buy rating and set a $80.00 target price on shares of Apellis Pharmaceuticals in a research report on Wednesday, July 31st. Robert W. Baird restated an outperform rating and issued a $100.00 target price on shares of Apellis Pharmaceuticals in a research note on Tuesday, July 23rd. Finally, UBS Group reduced their price target on Apellis Pharmaceuticals from $89.00 to $85.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $72.63.

Apellis Pharmaceuticals Price Performance

NASDAQ APLS opened at $36.16 on Friday. The company has a market cap of $4.39 billion, a PE ratio of -10.45 and a beta of 0.88. The firm’s 50 day moving average price is $38.62 and its 200-day moving average price is $49.27. 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 52-week low of $29.79 and a 52-week high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results 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 company had revenue of $199.70 million during the quarter, compared to analyst estimates of $190.89 million. During the same quarter in the prior year, the business earned ($1.02) earnings per share. Apellis Pharmaceuticals’s revenue was up 110.2% on a year-over-year basis. Sell-side analysts forecast that Apellis Pharmaceuticals will post -1.14 EPS for the current fiscal year.

Insider Activity at Apellis Pharmaceuticals

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

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Sippican Capital Advisors raised its stake in shares of Apellis Pharmaceuticals by 1.1% during the 4th quarter. Sippican Capital Advisors now owns 16,004 shares of the company’s stock valued at $958,000 after buying an additional 170 shares during the last quarter. Amalgamated Bank grew its holdings in Apellis Pharmaceuticals by 5.4% during the second quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock worth $268,000 after acquiring an additional 359 shares during the period. Simplicity Wealth LLC raised its position in Apellis Pharmaceuticals by 0.6% during the second quarter. Simplicity Wealth LLC now owns 78,746 shares of the company’s stock valued at $3,021,000 after acquiring an additional 499 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in Apellis Pharmaceuticals in the first quarter valued at approximately $29,000. Finally, Oppenheimer Asset Management Inc. boosted its position in Apellis Pharmaceuticals by 8.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 8,694 shares of the company’s stock worth $511,000 after purchasing an additional 664 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other 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).