Apellis Pharmaceuticals (NASDAQ:APLS) Releases Quarterly Earnings Results, Beats Expectations By $0.53 EPS

Apellis Pharmaceuticals (NASDAQ:APLS) released its quarterly earnings data on Thursday. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.53, FiscalAI reports. Apellis Pharmaceuticals had a return on equity of 8.20% and a net margin of 2.23%.The company had revenue of $268.30 million for the quarter, compared to the consensus estimate of $203.58 million.

Apellis Pharmaceuticals Trading Up 0.1%

NASDAQ:APLS traded up $0.02 during trading hours on Friday, hitting $41.03. 6,099,943 shares of the company were exchanged, compared to its average volume of 4,599,883. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 315.65 and a beta of -0.24. The company has a current ratio of 3.14, a quick ratio of 2.70 and a debt-to-equity ratio of 0.98. Apellis Pharmaceuticals has a one year low of $16.10 and a one year high of $41.14. The company has a fifty day simple moving average of $30.34 and a 200 day simple moving average of $25.59.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in APLS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Apellis Pharmaceuticals by 207.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,559 shares of the company’s stock worth $667,000 after acquiring an additional 19,944 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Apellis Pharmaceuticals by 26.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 307,709 shares of the company’s stock worth $6,730,000 after acquiring an additional 64,742 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Apellis Pharmaceuticals by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,634 shares of the company’s stock worth $4,869,000 after acquiring an additional 9,747 shares in the last quarter. Focus Partners Wealth raised its position in shares of Apellis Pharmaceuticals by 118.4% in the 1st quarter. Focus Partners Wealth now owns 21,883 shares of the company’s stock worth $479,000 after acquiring an additional 11,862 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Apellis Pharmaceuticals by 1,146.2% in the 1st quarter. Acadian Asset Management LLC now owns 23,976 shares of the company’s stock valued at $522,000 after buying an additional 22,052 shares during the period. 96.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

APLS has been the topic of several recent research reports. Wells Fargo & Company downgraded Apellis Pharmaceuticals from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $26.00 to $41.00 in a report on Friday, April 17th. The Goldman Sachs Group reissued a “sell” rating and set a $19.00 price objective on shares of Apellis Pharmaceuticals in a report on Monday, January 12th. Royal Bank Of Canada lowered their target price on Apellis Pharmaceuticals from $22.00 to $21.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 25th. Robert W. Baird lowered Apellis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Wall Street Zen lowered Apellis Pharmaceuticals from a “buy” rating to a “sell” rating in a research report on Saturday, February 28th. Three analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.72.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.