Apellis Pharmaceuticals (NASDAQ:APLS) Downgraded by The Goldman Sachs Group to “Neutral”

The Goldman Sachs Group cut shares of Apellis Pharmaceuticals (NASDAQ:APLS) from a buy rating to a neutral rating in a report released on Tuesday, MarketBeat reports. They currently have $36.00 price target on the stock.

Several other equities research analysts also recently issued reports on APLS. JPMorgan Chase & Co. dropped their price objective on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. HC Wainwright dropped their price target on shares of Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Evercore ISI upgraded shares of Apellis Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, October 31st. Mizuho dropped their target price on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Finally, Needham & Company LLC reduced their price target on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.94.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ:APLS opened at $34.53 on Tuesday. The business’s 50-day simple moving average is $29.78 and its 200 day simple moving average is $34.67. The company has a market cap of $4.30 billion, a P/E ratio of -16.93 and a beta of 0.94. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. Apellis Pharmaceuticals has a one year low of $24.34 and a one year high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The firm had revenue of $196.83 million for the quarter, compared to analysts’ expectations of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The company’s revenue for the quarter was up 78.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.17) EPS. On average, sell-side analysts forecast that Apellis Pharmaceuticals will post -1.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Wolverine Asset Management LLC bought a new stake in Apellis Pharmaceuticals in the 3rd quarter valued at about $27,000. True Wealth Design LLC acquired a new stake in shares of Apellis Pharmaceuticals in the third quarter valued at approximately $27,000. Capital Performance Advisors LLP bought a new stake in shares of Apellis Pharmaceuticals during the third quarter valued at approximately $56,000. KBC Group NV boosted its position in shares of Apellis Pharmaceuticals by 34.8% during the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after buying an additional 679 shares during the period. Finally, nVerses Capital LLC grew its holdings 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 in the last quarter. Institutional investors own 96.29% of the company’s stock.

Apellis Pharmaceuticals Company Profile

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).