Wedbush Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $57.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its target price lowered by Wedbush from $67.00 to $57.00 in a report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock. Wedbush also issued estimates for Apellis Pharmaceuticals’ Q1 2024 earnings at ($0.83) EPS, Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at ($2.18) EPS, FY2025 earnings at $2.23 EPS, FY2026 earnings at $4.50 EPS, FY2027 earnings at $6.53 EPS and FY2028 earnings at $8.24 EPS.

A number of other research analysts have also recently weighed in on APLS. UBS Group raised their price target on Apellis Pharmaceuticals from $87.00 to $89.00 and gave the company a buy rating in a research report on Monday, March 4th. Robert W. Baird restated an outperform rating and issued a $81.00 price target on shares of Apellis Pharmaceuticals in a research report on Tuesday, February 6th. HC Wainwright restated a buy rating and issued a $92.00 price target on shares of Apellis Pharmaceuticals in a research report on Monday, April 15th. JPMorgan Chase & Co. raised their price target on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the company an overweight rating in a research report on Wednesday, March 6th. Finally, Oppenheimer raised their price target on Apellis Pharmaceuticals from $75.00 to $79.00 and gave the company an outperform rating in a research report on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating, eleven 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 price target of $77.93.

Apellis Pharmaceuticals Trading Up 0.0 %

NASDAQ:APLS opened at $47.53 on Wednesday. The stock has a fifty day moving average price of $59.71 and a two-hundred day moving average price of $57.04. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of -10.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.50 and a current ratio of 3.10. Apellis Pharmaceuticals has a 1 year low of $19.83 and a 1 year high of $94.75.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.73) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.73). Apellis Pharmaceuticals had a negative return on equity of 178.60% and a negative net margin of 133.34%. The business had revenue of $146.38 million during the quarter, compared to analysts’ expectations of $143.34 million. During the same quarter last year, the business posted ($1.50) earnings per share. The business’s revenue for the quarter was up 545.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Apellis Pharmaceuticals will post -1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 18,681 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $57.18, for a total value of $1,068,179.58. Following the sale, the director now directly owns 173,998 shares of the company’s stock, valued at approximately $9,949,205.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Apellis Pharmaceuticals news, Director A. Sinclair Dunlop sold 18,681 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $57.18, for a total value of $1,068,179.58. Following the sale, the director now directly owns 173,998 shares of the company’s stock, valued at approximately $9,949,205.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Pascal Deschatelets sold 69,107 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $54.17, for a total value of $3,743,526.19. Following the completion of the sale, the insider now directly owns 1,115,983 shares in the company, valued at $60,452,799.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 406,651 shares of company stock valued at $25,130,257. Insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cim Investment Management Inc. lifted its stake in shares of Apellis Pharmaceuticals by 3.6% in the 1st quarter. Cim Investment Management Inc. now owns 4,744 shares of the company’s stock valued at $313,000 after purchasing an additional 163 shares in the last quarter. Sippican Capital Advisors lifted its stake in shares of Apellis Pharmaceuticals by 1.1% in the 4th quarter. Sippican Capital Advisors now owns 16,004 shares of the company’s stock valued at $958,000 after purchasing an additional 170 shares in the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of Apellis Pharmaceuticals by 6.9% in the 4th quarter. Advisor Group Holdings Inc. now owns 3,249 shares of the company’s stock valued at $167,000 after purchasing an additional 209 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Apellis Pharmaceuticals by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 43,800 shares of the company’s stock valued at $1,666,000 after buying an additional 230 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in Apellis Pharmaceuticals by 69.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 649 shares of the company’s stock worth $25,000 after acquiring an additional 265 shares in the last quarter. 96.29% of the stock is owned by institutional investors and hedge funds.

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).