Wedbush Lifts Earnings Estimates for Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Research analysts at Wedbush increased their FY2029 earnings per share estimates for shares of Apellis Pharmaceuticals in a report issued on Monday, March 3rd. Wedbush analyst L. Chico now forecasts that the company will earn $3.79 per share for the year, up from their prior forecast of $3.77. Wedbush currently has a “Neutral” rating and a $29.00 target price on the stock. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.70) per share.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its earnings results on Friday, February 28th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.08. The firm had revenue of $212.50 million during the quarter, compared to the consensus estimate of $197.92 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The business’s quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.73) earnings per share.

Other research analysts have also recently issued reports about the company. Oppenheimer decreased their target price on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group cut their price objective on Apellis Pharmaceuticals from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday. Wells Fargo & Company lowered their target price on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of Apellis Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Needham & Company LLC lowered their price objective on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apellis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.53.

Apellis Pharmaceuticals Price Performance

APLS opened at $26.00 on Tuesday. The stock has a market cap of $3.23 billion, a P/E ratio of -12.81 and a beta of 0.93. Apellis Pharmaceuticals has a 12 month low of $23.77 and a 12 month high of $64.33. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The company has a fifty day simple moving average of $29.53 and a 200 day simple moving average of $31.30.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of APLS. EverSource Wealth Advisors LLC raised its holdings in shares of Apellis Pharmaceuticals by 2,707.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock valued at $25,000 after purchasing an additional 758 shares during the period. Wolverine Asset Management LLC acquired a new position in Apellis Pharmaceuticals during the third quarter worth approximately $27,000. True Wealth Design LLC bought a new stake in Apellis Pharmaceuticals in the third quarter valued at approximately $27,000. Signaturefd LLC lifted its position in shares of Apellis Pharmaceuticals by 357.2% in the fourth quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock valued at $37,000 after buying an additional 918 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Apellis Pharmaceuticals in the third quarter valued at approximately $56,000. Institutional investors own 96.29% of the company’s stock.

Insider Transactions at Apellis Pharmaceuticals

In other news, CEO Cedric Francois sold 2,824 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $29.52, for a total transaction of $83,364.48. Following the sale, the chief executive officer now owns 415,695 shares in the company, valued at $12,271,316.40. This represents a 0.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Caroline Baumal sold 2,816 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the transaction, the insider now directly owns 55,560 shares of the company’s stock, valued at $1,878,483.60. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,365 shares of company stock worth $1,810,479 in the last three months. Insiders own 6.80% of the company’s stock.

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).