Apellis Pharmaceuticals, Inc. (NASDAQ:APLS – Get Rating) – Analysts at Wedbush upped their Q2 2022 earnings per share (EPS) estimates for shares of Apellis Pharmaceuticals in a note issued to investors on Wednesday, May 4th. Wedbush analyst L. Chico now anticipates that the company will earn ($1.11) per share for the quarter, up from their previous estimate of ($1.40). Wedbush also issued estimates for Apellis Pharmaceuticals’ Q3 2022 earnings at ($1.25) EPS, Q4 2022 earnings at ($1.27) EPS, FY2022 earnings at ($5.02) EPS, Q1 2023 earnings at ($1.27) EPS, Q2 2023 earnings at ($1.27) EPS, Q3 2023 earnings at ($1.22) EPS, Q4 2023 earnings at ($1.18) EPS, FY2023 earnings at ($4.94) EPS and FY2024 earnings at ($2.82) EPS.
A number of other analysts have also issued reports on the company. Roth Capital lowered Apellis Pharmaceuticals from a “neutral” rating to a “sell” rating and set a $40.00 target price on the stock. in a report on Wednesday, April 13th. JPMorgan Chase & Co. increased their price target on shares of Apellis Pharmaceuticals from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, April 4th. Robert W. Baird lifted their target price on Apellis Pharmaceuticals from $83.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 16th. Citigroup reissued a “focus list” rating and issued a $81.00 price target on shares of Apellis Pharmaceuticals in a report on Thursday, March 17th. Finally, Raymond James dropped their price target on shares of Apellis Pharmaceuticals from $114.00 to $102.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Apellis Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $69.87.
Apellis Pharmaceuticals (NASDAQ:APLS – Get Rating) last posted its earnings results on Wednesday, May 4th. The company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.07). Apellis Pharmaceuticals had a negative net margin of 866.81% and a negative return on equity of 607.37%. During the same quarter last year, the business earned ($2.32) earnings per share.
Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in Apellis Pharmaceuticals by 25.4% in the fourth quarter. Arizona State Retirement System now owns 20,617 shares of the company’s stock worth $975,000 after purchasing an additional 4,172 shares during the period. Asymmetry Capital Management L.P. bought a new position in Apellis Pharmaceuticals during the fourth quarter worth about $6,593,000. Guggenheim Capital LLC acquired a new position in Apellis Pharmaceuticals in the third quarter valued at about $1,439,000. Assenagon Asset Management S.A. bought a new stake in shares of Apellis Pharmaceuticals in the fourth quarter worth about $3,181,000. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Apellis Pharmaceuticals by 21.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 3,006 shares of the company’s stock worth $99,000 after purchasing an additional 537 shares during the period. 76.50% of the stock is owned by institutional investors.
In other Apellis Pharmaceuticals news, SVP Mark Jeffrey Delong sold 7,000 shares of the stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $52.53, for a total value of $367,710.00. Following the transaction, the senior vice president now directly owns 28,481 shares in the company, valued at approximately $1,496,106.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pascal Deschatelets sold 4,000 shares of the business’s stock in a transaction on Friday, April 29th. The stock was sold at an average price of $44.43, for a total value of $177,720.00. Following the sale, the insider now owns 891,775 shares of the company’s stock, valued at approximately $39,621,563.25. The disclosure for this sale can be found here. Insiders have sold a total of 49,666 shares of company stock valued at $2,466,491 over the last ninety days. Insiders own 9.50% of the company’s stock.
About Apellis Pharmaceuticals (Get Rating)
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. The company's lead product candidate is pegcetacoplan that is in Phase III clinical trials for the treatment of geographic atrophy (GA) in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria (PNH) diseases.
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