Apellis Pharmaceuticals, Inc. to Post Q1 2024 Earnings of ($0.83) Per Share, Wedbush Forecasts (NASDAQ:APLS)

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Equities research analysts at Wedbush lifted their Q1 2024 earnings per share (EPS) estimates for shares of Apellis Pharmaceuticals in a report issued on Wednesday, April 17th. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of ($0.83) for the quarter, up from their prior forecast of ($0.88). Wedbush currently has a “Neutral” rating and a $57.00 target price on the stock. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.33) per share. Wedbush also issued estimates for Apellis Pharmaceuticals’ Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at ($2.18) EPS, FY2026 earnings at $4.50 EPS, FY2027 earnings at $6.53 EPS and FY2028 earnings at $8.24 EPS.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.73) EPS for the quarter, meeting the consensus estimate of ($0.73). The business had revenue of $146.38 million during the quarter, compared to analyst estimates of $143.34 million. Apellis Pharmaceuticals had a negative return on equity of 178.60% and a negative net margin of 133.34%. The company’s revenue for the quarter was up 545.9% on a year-over-year basis. During the same quarter last year, the firm posted ($1.50) earnings per share.

Several other equities analysts have also issued reports on the stock. Mizuho reiterated a “neutral” rating and set a $60.00 target price on shares of Apellis Pharmaceuticals in a report on Wednesday, March 27th. JPMorgan Chase & Co. lifted their price target on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Robert W. Baird reissued an “outperform” rating and set a $81.00 price objective on shares of Apellis Pharmaceuticals in a research report on Tuesday, February 6th. Raymond James upped their target price on shares of Apellis Pharmaceuticals from $67.00 to $106.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 11th. Finally, Oppenheimer raised their price target on shares of Apellis Pharmaceuticals from $75.00 to $79.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.93.

Apellis Pharmaceuticals Trading Up 0.0 %

Shares of NASDAQ APLS opened at $47.53 on Friday. Apellis Pharmaceuticals has a 1 year low of $19.83 and a 1 year high of $94.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.10 and a quick ratio of 2.50. The firm has a 50-day moving average of $59.71 and a 200 day moving average of $57.04. The stock has a market cap of $5.73 billion, a P/E ratio of -10.61 and a beta of 0.88.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of hedge funds have recently modified their holdings of APLS. Price T Rowe Associates Inc. MD boosted its holdings in Apellis Pharmaceuticals by 66.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,590,040 shares of the company’s stock worth $302,760,000 after buying an additional 1,840,498 shares during the period. Jennison Associates LLC raised its stake in Apellis Pharmaceuticals by 79.8% during the 3rd quarter. Jennison Associates LLC now owns 3,542,209 shares of the company’s stock valued at $134,746,000 after purchasing an additional 1,571,606 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Apellis Pharmaceuticals by 109.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,145,004 shares of the company’s stock worth $128,400,000 after purchasing an additional 1,121,497 shares in the last quarter. Norges Bank bought a new position in Apellis Pharmaceuticals in the 4th quarter worth approximately $54,164,000. Finally, Morgan Stanley grew its holdings in Apellis Pharmaceuticals by 112.6% during the 3rd quarter. Morgan Stanley now owns 1,608,996 shares of the company’s stock valued at $61,206,000 after buying an additional 852,331 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Pascal Deschatelets sold 69,107 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the completion of the sale, the insider now owns 1,115,983 shares in the company, valued at $60,452,799.11. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Pascal Deschatelets sold 69,107 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the completion of the sale, the insider now owns 1,115,983 shares of the company’s stock, valued at approximately $60,452,799.11. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel David O. Watson sold 781 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $67.77, for a total value of $52,928.37. Following the completion of the sale, the general counsel now owns 103,390 shares of the company’s stock, valued at $7,006,740.30. The disclosure for this sale can be found here. Insiders have sold 406,651 shares of company stock valued at $25,130,257 in the last ninety days. 7.50% of the stock is currently owned by company insiders.

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).