Wedbush Research Analysts Lower Earnings Estimates for APLS

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Research analysts at Wedbush dropped their FY2024 earnings per share (EPS) estimates for shares of Apellis Pharmaceuticals in a report issued on Tuesday, November 5th. Wedbush analyst L. Chico now expects that the company will earn ($1.77) per share for the year, down from their previous forecast of ($1.44). Wedbush currently has a “Neutral” rating and a $41.00 target price on the stock. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.40) per share. Wedbush also issued estimates for Apellis Pharmaceuticals’ Q4 2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.56) EPS, Q2 2025 earnings at ($0.49) EPS, Q3 2025 earnings at ($0.45) EPS, Q4 2025 earnings at $0.25 EPS, FY2025 earnings at ($1.25) EPS, FY2026 earnings at $2.14 EPS, FY2027 earnings at $3.27 EPS and FY2028 earnings at $3.90 EPS.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The company had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. During the same period last year, the business earned ($1.17) EPS. The firm’s quarterly revenue was up 78.3% compared to the same quarter last year.

Other analysts also recently issued reports about the stock. Scotiabank decreased their price objective on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Citigroup lowered their price objective on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler dropped their price objective on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday. UBS Group decreased their target price on Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $25.00 price target on shares of Apellis Pharmaceuticals in a research note on Monday. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.06.

Apellis Pharmaceuticals Stock Performance

NASDAQ APLS opened at $28.74 on Thursday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. Apellis Pharmaceuticals has a 12 month low of $24.34 and a 12 month high of $73.80. The company’s 50 day moving average is $31.19 and its two-hundred day moving average is $37.14.

Insiders Place Their Bets

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the sale, the director now directly owns 100,000 shares in the company, valued at approximately $3,623,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Large investors have recently modified their holdings of the stock. KBC Group NV boosted its stake in 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. GSA Capital Partners LLP bought a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter worth about $824,000. Wolverine Asset Management LLC purchased a new position in shares of Apellis Pharmaceuticals during the 3rd quarter worth about $27,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Apellis Pharmaceuticals by 10.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 49,795 shares of the company’s stock worth $1,436,000 after purchasing an additional 4,554 shares during the period. Finally, Assetmark Inc. grew its holdings in Apellis Pharmaceuticals by 6.6% during the 3rd quarter. Assetmark Inc. now owns 46,065 shares of the company’s stock valued at $1,329,000 after purchasing an additional 2,852 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

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).