What is William Blair’s Forecast for APLS FY2024 Earnings?

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Research analysts at William Blair boosted their FY2024 EPS estimates for Apellis Pharmaceuticals in a note issued to investors on Tuesday, January 21st. William Blair analyst L. Hanbury-Brown now forecasts that the company will post earnings per share of ($1.62) for the year, up from their previous forecast of ($1.71). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.71) per share. William Blair also issued estimates for Apellis Pharmaceuticals’ Q4 2024 earnings at ($0.32) EPS and FY2025 earnings at ($0.95) EPS.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results 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 business had revenue of $196.83 million for the quarter, compared to analysts’ expectations of $200.00 million. During the same period last year, the business earned ($1.17) EPS. The company’s revenue for the quarter was up 78.3% on a year-over-year basis.

APLS has been the topic of several other research reports. Evercore ISI upgraded shares of Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. Wells Fargo & Company dropped their price target on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Robert W. Baird dropped their price target on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada restated a “sector perform” rating and set a $26.00 price target on shares of Apellis Pharmaceuticals in a research report on Tuesday. Finally, Mizuho dropped their price target on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Apellis Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $46.71.

Apellis Pharmaceuticals Trading Up 1.2 %

Shares of Apellis Pharmaceuticals stock opened at $30.76 on Thursday. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The firm has a fifty day moving average price of $31.95 and a 200 day moving average price of $33.25. Apellis Pharmaceuticals has a 1 year low of $24.34 and a 1 year high of $71.90. The stock has a market cap of $3.83 billion, a PE ratio of -15.15 and a beta of 0.94.

Insider Buying and Selling

In related news, insider Caroline Baumal sold 2,816 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $33.81, for a total transaction of $95,208.96. Following the transaction, the insider now directly owns 55,560 shares in the company, valued at approximately $1,878,483.60. The trade was a 4.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel David O. Watson sold 3,323 shares of Apellis Pharmaceuticals stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total transaction of $101,118.89. Following the transaction, the general counsel now directly owns 144,994 shares in the company, valued at $4,412,167.42. This trade represents a 2.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,112 shares of company stock worth $1,655,767. 6.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of institutional investors have recently bought and sold shares of APLS. Braidwell LP raised its stake in shares of Apellis Pharmaceuticals by 410.8% in the 3rd quarter. Braidwell LP now owns 3,125,183 shares of the company’s stock valued at $90,130,000 after acquiring an additional 2,513,383 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Apellis Pharmaceuticals by 191.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock valued at $61,845,000 after acquiring an additional 1,409,707 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Apellis Pharmaceuticals by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock valued at $112,036,000 after acquiring an additional 735,160 shares during the period. Sphera Funds Management LTD. purchased a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter valued at approximately $6,226,000. Finally, AQR Capital Management LLC raised its stake in shares of Apellis Pharmaceuticals by 337.3% in the 2nd quarter. AQR Capital Management LLC now owns 246,880 shares of the company’s stock valued at $9,177,000 after acquiring an additional 190,420 shares during the period. 96.29% of the stock is owned by hedge funds and other institutional investors.

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).