William Blair Has Bullish Estimate for APLS FY2024 Earnings

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Research analysts at William Blair increased their FY2024 earnings estimates for Apellis Pharmaceuticals in a research report issued to clients and investors on Tuesday, January 21st. William Blair analyst L. Hanbury-Brown now anticipates that the company will post earnings of ($1.62) per share for the year, up from their prior estimate of ($1.71). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.71) 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 announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The business had revenue of $196.83 million during the quarter, compared to analyst estimates 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 for the quarter was up 78.3% on a year-over-year basis. During the same quarter last year, the firm posted ($1.17) EPS.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group cut shares of Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a report on Tuesday, December 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $26.00 price target on shares of Apellis Pharmaceuticals in a report on Tuesday. Morgan Stanley started coverage on shares of Apellis Pharmaceuticals in a report on Thursday, November 21st. They set an “equal weight” rating and a $31.00 price target for the company. Mizuho lowered their price target on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Finally, Scotiabank lowered their price target on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apellis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $46.71.

Apellis Pharmaceuticals Trading Up 1.2 %

Shares of APLS stock opened at $30.76 on Thursday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36. The stock has a market capitalization of $3.83 billion, a P/E ratio of -15.15 and a beta of 0.94. The company has a 50 day moving average price of $31.95 and a 200 day moving average price of $33.25. Apellis Pharmaceuticals has a fifty-two week low of $24.34 and a fifty-two week high of $71.90.

Insider Activity at Apellis Pharmaceuticals

In related news, CFO Timothy Eugene Sullivan sold 2,170 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.70, for a total value of $62,279.00. Following the completion of the sale, the chief financial officer now owns 88,100 shares in the company, valued at $2,528,470. This represents a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cedric Francois sold 6,247 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.70, for a total transaction of $179,288.90. Following the completion of the sale, the chief executive officer now owns 307,415 shares of the company’s stock, valued at approximately $8,822,810.50. This trade represents a 1.99 % 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 90 days. 6.80% of the stock is owned by insiders.

Institutional Trading of Apellis Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its position in Apellis Pharmaceuticals by 42.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock worth $5,161,000 after buying an additional 39,931 shares during the last quarter. JPMorgan Chase & Co. raised its position in Apellis Pharmaceuticals by 23.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock worth $112,036,000 after buying an additional 735,160 shares during the last quarter. Algert Global LLC raised its position in Apellis Pharmaceuticals by 137.8% during the 2nd quarter. Algert Global LLC now owns 123,628 shares of the company’s stock worth $4,742,000 after buying an additional 71,650 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in Apellis Pharmaceuticals during the 3rd quarter worth $1,370,000. Finally, GSA Capital Partners LLP purchased a new position in Apellis Pharmaceuticals during the 3rd quarter worth $824,000. Hedge funds and other 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).