Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Cut to $66.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target trimmed by The Goldman Sachs Group from $77.00 to $66.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group reiterated a buy rating and set a $80.00 price objective on shares of Apellis Pharmaceuticals in a research report on Wednesday, July 31st. UBS Group reduced their price objective on Apellis Pharmaceuticals from $89.00 to $85.00 and set a buy rating for the company in a research report on Wednesday, May 8th. Wedbush cut their target price on Apellis Pharmaceuticals from $67.00 to $57.00 and set a neutral rating for the company in a research report on Wednesday, April 17th. Piper Sandler assumed coverage on Apellis Pharmaceuticals in a research report on Friday, May 31st. They issued a neutral rating and a $46.00 target price for the company. Finally, HC Wainwright restated a buy rating and issued a $92.00 target price on shares of Apellis Pharmaceuticals in a research report on Tuesday, May 28th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apellis Pharmaceuticals presently has a consensus rating of Moderate Buy and an average target price of $73.50.

Apellis Pharmaceuticals Stock Down 7.3 %

NASDAQ:APLS opened at $33.89 on Friday. The firm has a market capitalization of $4.11 billion, a PE ratio of -9.94 and a beta of 0.88. The stock has a 50 day moving average of $39.20 and a 200-day moving average of $50.53. Apellis Pharmaceuticals has a 52 week low of $19.83 and a 52 week high of $73.80. The company has a current ratio of 5.08, a quick ratio of 3.02 and a debt-to-equity ratio of 1.73.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.03. The business had revenue of $199.70 million during the quarter, compared to the consensus estimate of $190.89 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The business’s revenue was up 110.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.02) earnings per share. Analysts predict that Apellis Pharmaceuticals will post -1.14 EPS for the current year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, insider Pascal Deschatelets sold 78,907 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $42.35, for a total transaction of $3,341,711.45. Following the sale, the insider now directly owns 1,115,983 shares of the company’s stock, valued at approximately $47,261,880.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction on Friday, June 21st. The shares were 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 of the company’s stock, valued at $5,375,801.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pascal Deschatelets sold 78,907 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $42.35, for a total transaction of $3,341,711.45. Following the transaction, the insider now directly owns 1,115,983 shares in the company, valued at $47,261,880.05. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Future Financial Wealth Managment LLC acquired a new position in Apellis Pharmaceuticals during the first quarter worth $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Apellis Pharmaceuticals during the first quarter worth $89,000. nVerses Capital LLC boosted its holdings in Apellis Pharmaceuticals by 300.0% during the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock valued at $107,000 after acquiring an additional 2,100 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Apellis Pharmaceuticals in the fourth quarter valued at about $205,000. Finally, Woodward Diversified Capital LLC acquired a new stake in shares of Apellis Pharmaceuticals in the fourth quarter valued at about $210,000. 96.29% of the stock is owned by institutional investors and hedge funds.

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).