HC Wainwright Weighs in on Apellis Pharmaceuticals, Inc.’s Q1 2023 Earnings (NASDAQ:APLS)

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS – Get Rating) – Analysts at HC Wainwright cut their Q1 2023 EPS estimates for Apellis Pharmaceuticals in a note issued to investors on Thursday, February 23rd. HC Wainwright analyst D. Tsao now anticipates that the company will earn ($1.57) per share for the quarter, down from their prior estimate of ($1.51). HC Wainwright currently has a “Buy” rating and a $87.00 target price on the stock. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($5.23) per share. HC Wainwright also issued estimates for Apellis Pharmaceuticals’ Q2 2023 earnings at ($1.41) EPS, Q3 2023 earnings at ($1.25) EPS, Q4 2023 earnings at ($1.14) EPS, FY2023 earnings at ($5.35) EPS, FY2024 earnings at ($3.14) EPS, FY2025 earnings at $1.01 EPS and FY2026 earnings at $6.89 EPS.

Other analysts have also issued reports about the stock. Wedbush lowered their price objective on shares of Apellis Pharmaceuticals from $59.00 to $47.00 in a report on Tuesday, November 8th. Robert W. Baird raised their price objective on shares of Apellis Pharmaceuticals from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. Needham & Company LLC raised their price objective on shares of Apellis Pharmaceuticals from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. Wells Fargo & Company downgraded shares of Apellis Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $83.00 to $58.00 in a research note on Monday, January 2nd. Finally, Citigroup raised their target price on shares of Apellis Pharmaceuticals from $86.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, February 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Apellis Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $78.60.

Apellis Pharmaceuticals Stock Performance

Shares of APLS opened at $66.69 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.29 and a quick ratio of 6.69. Apellis Pharmaceuticals has a one year low of $33.32 and a one year high of $70.75. The company has a 50-day simple moving average of $52.88 and a two-hundred day simple moving average of $55.84. The firm has a market capitalization of $7.42 billion, a PE ratio of -10.88 and a beta of 1.20.

Apellis Pharmaceuticals (NASDAQ:APLS – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The company reported ($1.50) EPS for the quarter, missing the consensus estimate of ($1.45) by ($0.05). Apellis Pharmaceuticals had a negative return on equity of 204.77% and a negative net margin of 864.70%. The company had revenue of $22.70 million during the quarter, compared to analysts’ expectations of $24.44 million. The business’s revenue was down 62.4% compared to the same quarter last year.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in APLS. DekaBank Deutsche Girozentrale boosted its stake in shares of Apellis Pharmaceuticals by 116.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 57,700 shares of the company’s stock worth $2,549,000 after acquiring an additional 31,000 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in shares of Apellis Pharmaceuticals during the 3rd quarter worth $392,000. AXA S.A. boosted its stake in shares of Apellis Pharmaceuticals by 87.1% during the 3rd quarter. AXA S.A. now owns 146,488 shares of the company’s stock worth $10,005,000 after acquiring an additional 68,183 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Apellis Pharmaceuticals during the 3rd quarter worth $2,108,000. Finally, Amalgamated Bank boosted its stake in shares of Apellis Pharmaceuticals by 5.4% during the 3rd quarter. Amalgamated Bank now owns 15,172 shares of the company’s stock worth $1,036,000 after acquiring an additional 772 shares during the last quarter. Institutional investors own 87.26% of the company’s stock.

Insider Activity at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $50.70, for a total transaction of $25,350.00. Following the completion of the sale, the director now owns 132,797 shares of the company’s stock, valued at $6,732,807.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 500 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $50.70, for a total value of $25,350.00. Following the completion of the sale, the director now owns 132,797 shares of the company’s stock, valued at approximately $6,732,807.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeffrey Eisele sold 883 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $52.76, for a total transaction of $46,587.08. Following the completion of the sale, the insider now directly owns 46,468 shares of the company’s stock, valued at approximately $2,451,651.68. The disclosure for this sale can be found here. Insiders sold 91,538 shares of company stock valued at $4,656,185 over the last 90 days. Corporate insiders own 8.00% of the company’s stock.

About Apellis Pharmaceuticals

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Apellis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company, which develops novel therapeutic and complement immunotherapies for the treatment of complement-dependent autoimmune and inflammatory diseases through APL-2 product. The company was founded by Candace Rose Depp, Pascal Deschatelets, Cedric Francois, Alec Machiels on September 25, 2009 and is headquartered in Waltham, MA.