Wedbush Predicts Weaker Earnings for Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Equities research analysts at Wedbush reduced their FY2028 earnings per share estimates for Apellis Pharmaceuticals in a report issued on Thursday, October 30th. Wedbush analyst L. Chico now forecasts that the company will earn $0.80 per share for the year, down from their prior estimate of $0.92. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.70) per share. Wedbush also issued estimates for Apellis Pharmaceuticals’ FY2029 earnings at $2.03 EPS.

Several other brokerages have also issued reports on APLS. Mizuho decreased their price target on shares of Apellis Pharmaceuticals from $24.00 to $19.00 and set a “neutral” rating for the company in a report on Monday. Raymond James Financial decreased their target price on Apellis Pharmaceuticals from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, August 1st. Royal Bank Of Canada raised their price target on Apellis Pharmaceuticals from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on Apellis Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Finally, Cantor Fitzgerald increased their target price on Apellis Pharmaceuticals from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $33.44.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ:APLS opened at $20.47 on Monday. The firm’s 50 day simple moving average is $25.23 and its 200 day simple moving average is $21.77. Apellis Pharmaceuticals has a fifty-two week low of $16.10 and a fifty-two week high of $35.72. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 66.03 and a beta of 0.70. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.54 and a quick ratio of 3.16.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Thursday, October 30th. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.64. The firm had revenue of $458.58 million for the quarter, compared to analysts’ expectations of $364.58 million. Apellis Pharmaceuticals had a return on equity of 18.94% and a net margin of 4.43%.The company’s revenue was up 133.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.46) earnings per share.

Insider Transactions at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, CEO Cedric Francois sold 49,963 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $28.39, for a total transaction of $1,418,449.57. Following the completion of the transaction, the chief executive officer owned 307,946 shares of the company’s stock, valued at $8,742,586.94. This represents a 13.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director A. Sinclair Dunlop sold 31,092 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $23.72, for a total transaction of $737,502.24. Following the completion of the sale, the director owned 3,837 shares in the company, valued at $91,013.64. This trade represents a 89.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 312,921 shares of company stock worth $8,490,866. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Apellis Pharmaceuticals by 0.8% during the first quarter. Vanguard Group Inc. now owns 10,130,356 shares of the company’s stock worth $221,551,000 after acquiring an additional 84,331 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Apellis Pharmaceuticals by 46.6% during the 2nd quarter. AQR Capital Management LLC now owns 5,976,414 shares of the company’s stock worth $103,452,000 after purchasing an additional 1,898,995 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Apellis Pharmaceuticals by 11,373.8% during the 2nd quarter. Marshall Wace LLP now owns 2,704,837 shares of the company’s stock worth $46,821,000 after purchasing an additional 2,681,263 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Apellis Pharmaceuticals by 7.4% in the 2nd quarter. Jennison Associates LLC now owns 2,661,823 shares of the company’s stock valued at $46,076,000 after buying an additional 184,292 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Apellis Pharmaceuticals in the second quarter valued at $40,977,000. Institutional investors own 96.29% 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).