FY2024 Earnings Forecast for APLS Issued By HC Wainwright

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Analysts at HC Wainwright dropped their FY2024 EPS estimates for shares of Apellis Pharmaceuticals in a report released on Wednesday, November 6th. HC Wainwright analyst D. Tsao now expects that the company will post earnings per share of ($1.79) for the year, down from their prior estimate of ($1.67). HC Wainwright currently has a “Buy” rating and a $57.00 target price on the stock. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.40) per share. HC Wainwright also issued estimates for Apellis Pharmaceuticals’ Q4 2024 earnings at ($0.49) EPS, Q1 2025 earnings at ($0.55) EPS, Q2 2025 earnings at ($0.39) EPS, Q3 2025 earnings at ($0.42) EPS, Q4 2025 earnings at ($0.37) EPS, FY2025 earnings at ($1.73) EPS, FY2026 earnings at ($0.62) EPS, FY2027 earnings at $0.88 EPS and FY2028 earnings at $2.61 EPS.

Apellis Pharmaceuticals (NASDAQ:APLS) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. 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 firm earned ($1.17) earnings per share. The firm’s quarterly revenue was up 78.3% on a year-over-year basis.

A number of other research firms have also recently weighed in on APLS. Wells Fargo & Company cut their price objective on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday. UBS Group cut their price target on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Evercore ISI upgraded shares of Apellis Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut their target price on Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Finally, Robert W. Baird decreased their target price on Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday. Six equities research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.06.

Apellis Pharmaceuticals Price Performance

APLS stock opened at $28.74 on Friday. The business has a 50 day moving average price of $31.19 and a 200 day moving average price of $37.14. The company has a quick ratio of 4.18, a current ratio of 5.08 and a debt-to-equity ratio of 1.73. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -10.49 and a beta of 0.87. Apellis Pharmaceuticals has a fifty-two week low of $24.34 and a fifty-two week high of $73.80.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its stake in 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 purchasing an additional 1,409,707 shares in the last quarter. Iron Triangle Partners LP acquired a new position in shares of Apellis Pharmaceuticals during the 1st quarter worth $32,329,000. Fiera Capital Corp raised its stake in shares of Apellis Pharmaceuticals by 47.7% during the 2nd quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock worth $53,750,000 after buying an additional 452,753 shares during the last quarter. AQR Capital Management LLC increased its holdings in Apellis Pharmaceuticals by 337.3% during 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 in the last quarter. Finally, Redmile Group LLC acquired a new position in Apellis Pharmaceuticals during the first quarter worth about $9,111,000. 96.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.80% of the stock is 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).