William Blair Has Bullish Outlook for APLS FY2024 Earnings

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Research analysts at William Blair upped their FY2024 earnings per share (EPS) estimates for Apellis Pharmaceuticals in a research report issued on Tuesday, January 21st. William Blair analyst L. Hanbury-Brown now forecasts that the company will post earnings per share of ($1.62) for the year, up from their previous forecast of ($1.71). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.70) per share. William Blair also issued estimates for Apellis Pharmaceuticals’ Q4 2024 earnings at ($0.32) EPS and FY2025 earnings at ($0.95) EPS.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The business 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%. Apellis Pharmaceuticals’s quarterly revenue was up 78.3% on a year-over-year basis. During the same period last year, the firm posted ($1.17) earnings per share.

APLS has been the topic of a number of other research reports. Bank of America cut their target price on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Wells Fargo & Company cut their price objective on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Citigroup decreased their target price on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Robert W. Baird reduced their price target on Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price objective on shares of Apellis Pharmaceuticals in a report on Tuesday. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Apellis Pharmaceuticals Stock Performance

NASDAQ:APLS opened at $30.00 on Thursday. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The firm’s fifty day simple moving average is $32.08 and its 200 day simple moving average is $33.18. The stock has a market cap of $3.73 billion, a P/E ratio of -14.78 and a beta of 0.94. Apellis Pharmaceuticals has a twelve month low of $24.34 and a twelve month high of $71.90.

Insider Buying and Selling

In related news, insider Caroline Baumal sold 2,816 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $33.81, for a total transaction of $95,208.96. Following the transaction, the insider now owns 55,560 shares in the company, valued at $1,878,483.60. This represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James George Chopas sold 1,096 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total transaction of $33,351.28. Following the completion of the sale, the chief accounting officer now directly owns 48,138 shares of the company’s stock, valued at approximately $1,464,839.34. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,112 shares of company stock worth $1,655,767 in the last three months. Insiders own 6.80% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

Large investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D boosted its position in Apellis Pharmaceuticals by 6.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 45,241 shares of the company’s stock worth $1,735,000 after purchasing an additional 2,820 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Apellis Pharmaceuticals by 42.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock worth $5,161,000 after purchasing an additional 39,931 shares during the period. Amalgamated Bank boosted its holdings in shares of Apellis Pharmaceuticals by 5.4% in the second quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock worth $268,000 after buying an additional 359 shares during the last quarter. Xponance Inc. grew its position in Apellis Pharmaceuticals by 7.6% during the second quarter. Xponance Inc. now owns 13,773 shares of the company’s stock valued at $528,000 after buying an additional 968 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Apellis Pharmaceuticals during the second quarter valued at approximately $2,350,000. 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).