Wedbush Has Positive Outlook for APLS FY2024 Earnings

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Investment analysts at Wedbush upped their FY2024 earnings estimates for Apellis Pharmaceuticals in a research report issued on Thursday, January 23rd. Wedbush analyst L. Chico now expects that the company will post earnings per share of ($1.75) 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.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted 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). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The firm had revenue of $196.83 million during the quarter, compared to analyst estimates of $200.00 million. During the same quarter in the previous year, the firm posted ($1.17) earnings per share. The company’s quarterly revenue was up 78.3% on a year-over-year basis.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer lowered their target price on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Piper Sandler decreased their price target on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 6th. Bank of America dropped their price objective on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Scotiabank decreased their target price on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Finally, Needham & Company LLC dropped their price target on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Eight 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.71.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ:APLS opened at $30.00 on Monday. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. Apellis Pharmaceuticals has a 1 year low of $24.34 and a 1 year high of $71.90. The firm has a market capitalization of $3.73 billion, a PE ratio of -14.78 and a beta of 0.94. The business’s 50 day moving average price is $32.08 and its 200-day moving average price is $33.12.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its stake in shares of Apellis Pharmaceuticals by 51.6% in the fourth quarter. Jennison Associates LLC now owns 2,760,404 shares of the company’s stock worth $88,084,000 after acquiring an additional 939,289 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Apellis Pharmaceuticals by 12.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 26,376 shares of the company’s stock valued at $842,000 after purchasing an additional 2,956 shares during the period. KBC Group NV grew its stake in Apellis Pharmaceuticals by 3,862.3% during the 4th quarter. KBC Group NV now owns 104,287 shares of the company’s stock worth $3,328,000 after purchasing an additional 101,655 shares in the last quarter. Merit Financial Group LLC acquired a new position in Apellis Pharmaceuticals during the 4th quarter worth $254,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Apellis Pharmaceuticals by 135.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 29,740 shares of the company’s stock worth $949,000 after purchasing an additional 17,115 shares during the period. 96.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apellis Pharmaceuticals

In other news, CEO Cedric Francois sold 6,247 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $28.70, for a total transaction of $179,288.90. Following the sale, the chief executive officer now owns 307,415 shares of the company’s stock, valued at approximately $8,822,810.50. This represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James George Chopas sold 1,096 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total transaction of $33,351.28. Following the completion of the transaction, the chief accounting officer now directly owns 48,138 shares of the company’s stock, valued at approximately $1,464,839.34. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,112 shares of company stock worth $1,655,767. 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).