Wedbush Has Positive Outlook of APLS FY2024 Earnings

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Investment analysts at Wedbush lifted their FY2024 earnings per share estimates for Apellis Pharmaceuticals in a research report issued to clients and investors on Thursday, January 23rd. Wedbush analyst L. Chico now forecasts that the company will post earnings of ($1.75) per share for the year, up from their previous forecast of ($1.77). The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.70) per share. Wedbush also issued estimates for Apellis Pharmaceuticals’ Q4 2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.50) EPS, Q2 2025 earnings at ($0.47) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.36) EPS, FY2025 earnings at ($1.75) EPS, FY2026 earnings at ($0.94) EPS, FY2027 earnings at $0.96 EPS, FY2028 earnings at $2.23 EPS and FY2029 earnings at $3.77 EPS.

A number of other research analysts have also weighed in on APLS. Citigroup reduced their price objective on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Oppenheimer dropped their price objective on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Scotiabank decreased their price target on Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. The Goldman Sachs Group cut shares of Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research note on Tuesday, December 17th. Finally, William Blair assumed coverage on shares of Apellis Pharmaceuticals in a report on Wednesday, October 16th. They issued an “outperform” rating for the company. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.71.

Apellis Pharmaceuticals Price Performance

APLS opened at $29.78 on Monday. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of -14.67 and a beta of 0.94. 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 has a 50-day moving average price of $32.15 and a 200-day moving average price of $33.06. Apellis Pharmaceuticals has a twelve month low of $24.34 and a twelve month high of $71.90.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced 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 during the quarter, compared to the consensus estimate 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 was up 78.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.17) earnings per share.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Apellis Pharmaceuticals by 23.3% in the third quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock valued at $112,036,000 after acquiring an additional 735,160 shares during the period. Braidwell LP increased its holdings in Apellis Pharmaceuticals by 410.8% during the 3rd quarter. Braidwell LP now owns 3,125,183 shares of the company’s stock valued at $90,130,000 after purchasing an additional 2,513,383 shares during the period. Jennison Associates LLC increased its holdings in Apellis Pharmaceuticals by 51.6% during the 4th quarter. Jennison Associates LLC now owns 2,760,404 shares of the company’s stock valued at $88,084,000 after purchasing an additional 939,289 shares during the period. Assenagon Asset Management S.A. raised its position in Apellis Pharmaceuticals by 191.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock valued at $61,845,000 after purchasing an additional 1,409,707 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Apellis Pharmaceuticals by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,810,526 shares of the company’s stock worth $52,229,000 after buying an additional 22,609 shares during the period. 96.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel David O. Watson sold 3,323 shares of Apellis Pharmaceuticals stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total value of $101,118.89. Following the transaction, the general counsel now owns 144,994 shares in the company, valued at approximately $4,412,167.42. The trade was a 2.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Caroline Baumal sold 2,816 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $33.81, for a total value of $95,208.96. Following the sale, the insider now owns 55,560 shares of the company’s stock, valued at $1,878,483.60. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,112 shares of company stock valued at $1,655,767. 6.80% of the stock is currently owned by corporate insiders.

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).