What is Wedbush’s Estimate for APLS FY2024 Earnings?

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Stock analysts at Wedbush lowered their FY2024 earnings per share estimates for shares of Apellis Pharmaceuticals in a research note issued to investors on Tuesday, November 5th. Wedbush analyst L. Chico now forecasts that the company will post earnings of ($1.77) per share for the year, down from their prior forecast of ($1.44). Wedbush has a “Neutral” rating and a $41.00 price target on the stock. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.40) per share. Wedbush also issued estimates for Apellis Pharmaceuticals’ Q4 2024 earnings at ($0.47) EPS, Q1 2025 earnings at ($0.56) EPS, Q2 2025 earnings at ($0.49) EPS, Q3 2025 earnings at ($0.45) EPS, Q4 2025 earnings at $0.25 EPS, FY2025 earnings at ($1.25) EPS, FY2026 earnings at $2.14 EPS, FY2027 earnings at $3.27 EPS and FY2028 earnings at $3.90 EPS.

Several other brokerages have also recently issued reports on APLS. Evercore ISI upgraded shares of Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. HC Wainwright reduced their target price on Apellis Pharmaceuticals from $83.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday. William Blair began coverage on Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They issued an “outperform” rating for the company. Needham & Company LLC reduced their price target on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Citigroup lowered their price objective on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Apellis Pharmaceuticals Stock Down 0.3 %

Shares of Apellis Pharmaceuticals stock opened at $28.74 on Thursday. The company’s fifty day simple moving average is $31.19 and its two-hundred day simple moving average is $37.14. Apellis Pharmaceuticals has a 12-month low of $24.34 and a 12-month high of $73.80. The company has a debt-to-equity ratio of 1.73, a current ratio of 5.08 and a quick ratio of 4.18.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its earnings results on Tuesday, November 5th. The company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The business had revenue of $196.83 million for the quarter, compared to the consensus estimate of $200.00 million. During the same quarter in the prior year, the company earned ($1.17) EPS. Apellis Pharmaceuticals’s revenue was up 78.3% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC purchased a new stake in Apellis Pharmaceuticals during the 3rd quarter valued at $27,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Apellis Pharmaceuticals during the first quarter valued at $89,000. Capital Performance Advisors LLP purchased a new stake in Apellis Pharmaceuticals during the third quarter valued at $56,000. KBC Group NV lifted its holdings in Apellis Pharmaceuticals by 34.8% in the third quarter. KBC Group NV now owns 2,632 shares of the company’s stock valued at $76,000 after acquiring an additional 679 shares during the period. Finally, nVerses Capital LLC boosted its position in Apellis Pharmaceuticals by 300.0% in the second quarter. nVerses Capital LLC now owns 2,800 shares of the company’s stock worth $107,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Insider Activity at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the sale, the director now directly owns 100,000 shares of the company’s stock, valued at $3,623,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.80% of the stock is currently owned by insiders.

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).