Wedbush Cuts Earnings Estimates for Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Equities research analysts at Wedbush reduced their FY2024 earnings per share estimates for Apellis Pharmaceuticals in a report issued on Tuesday, November 5th. Wedbush analyst L. Chico now anticipates that the company will post earnings of ($1.77) per share for the year, down from their prior estimate of ($1.44). Wedbush has a “Neutral” rating and a $41.00 price objective 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 issued its quarterly earnings data 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 return on equity of 138.32% and a negative net margin of 52.99%. The company’s revenue for the quarter was up 78.3% on a year-over-year basis. During the same period in the previous year, the business posted ($1.17) earnings per share.

A number of other research firms have also recently weighed in on APLS. Citigroup decreased their price objective on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday. The Goldman Sachs Group lowered their price objective on shares of Apellis Pharmaceuticals from $71.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $25.00 price objective on shares of Apellis Pharmaceuticals in a research note on Monday. Mizuho lowered their target price on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, Needham & Company LLC dropped their price target on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.24.

Apellis Pharmaceuticals Price Performance

Shares of APLS opened at $28.83 on Thursday. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -10.52 and a beta of 0.87. Apellis Pharmaceuticals has a fifty-two week low of $24.34 and a fifty-two week high of $73.80. The firm has a 50-day simple moving average of $31.39 and a 200-day simple moving average of $37.20. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08.

Institutional Trading of Apellis Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its stake in Apellis Pharmaceuticals by 191.9% in 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. Iron Triangle Partners LP acquired a new position in shares of Apellis Pharmaceuticals in the first quarter valued at approximately $32,329,000. Fiera Capital Corp lifted its stake in shares of Apellis Pharmaceuticals by 47.7% during the second quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock valued at $53,750,000 after buying an additional 452,753 shares during the period. AQR Capital Management LLC boosted its position in Apellis Pharmaceuticals by 337.3% during the second quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock worth $9,177,000 after acquiring an additional 190,420 shares during the last quarter. Finally, Redmile Group LLC purchased a new stake in Apellis Pharmaceuticals in the 1st quarter worth approximately $9,111,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Buying and Selling at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $3,623,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.80% of the company’s stock.

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).