Analysts Are Downgrading These 5 Pharmaceutical Stocks

3. Apellis Pharmaceuticals, Inc. (NASDAQ:APLS)

Number of Hedge Fund Holders: 26

Apellis Pharmaceuticals is an early-stage biotechnology company that focuses on chronic inflammatory and lung diseases. Roth Capital analyst Elemer Piros recently downgraded Apellis to Sell from Neutral with an unchanged $40 price target. The analyst noted Apellis Pharmaceuticals’ recent announcement of 18-month data from two phase 3 trials of pegcetacoplan. The analyst cited “mixed” nature of the pivotal trials and “significant appreciation” of the stock and uncertainty around the future for the downgrade.