Wedbush Cuts Earnings Estimates for Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) - Stock analysts at Wedbush lowered their FY2024 EPS estimates for shares of Apellis Pharmaceuticals in a report issued on Tuesday, November 5th. Wedbush analyst L. Chico now expects that the company will post earnings of ($1.77) per share for the year, down from their prior estimate of ($1.44). Wedbush currently has a "Neutral" rating and a $41.00 target price 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.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.14). The firm had revenue of $196.83 million for the quarter, compared to analysts' expectations of $200.00 million. Apellis Pharmaceuticals had a negative net margin of 52.99% and a negative return on equity of 138.32%. The company's quarterly revenue was up 78.3% on a year-over-year basis. During the same period in the previous year, the company earned ($1.17) EPS.

Several other equities research analysts have also recently weighed in on the company. Citigroup reduced their price target on Apellis Pharmaceuticals from $63.00 to $51.00 and set a "buy" rating on the stock in a research note on Wednesday. Robert W. Baird decreased their price target on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an "overweight" rating on the stock in a research note on Friday, September 13th. UBS Group decreased their target price on shares of Apellis Pharmaceuticals from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Finally, Needham & Company LLC dropped their price target on Apellis Pharmaceuticals from $85.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Apellis Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $51.06.

Apellis Pharmaceuticals Trading Down 0.3 %

Shares of NASDAQ:APLS traded down $0.09 on Thursday, hitting $28.74. The company had a trading volume of 2,097,603 shares, compared to its average volume of 2,631,123. The firm's 50-day simple moving average is $31.19 and its two-hundred day simple moving average is $37.14. The company has a current ratio of 5.08, a quick ratio of 4.18 and a debt-to-equity ratio of 1.73. Apellis Pharmaceuticals has a 1 year low of $24.34 and a 1 year high of $73.80.

Insider Transactions at Apellis Pharmaceuticals

In related news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $36.23, for a total value of $1,340,510.00. Following the sale, the director now directly owns 100,000 shares in the company, valued at approximately $3,623,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC purchased a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter valued at approximately $27,000. Capital Performance Advisors LLP purchased a new stake in Apellis Pharmaceuticals in the third quarter valued at $56,000. KBC Group NV lifted its stake in shares of Apellis Pharmaceuticals by 34.8% in the 3rd quarter. KBC Group NV now owns 2,632 shares of the company's stock valued at $76,000 after purchasing an additional 679 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Apellis Pharmaceuticals during the 1st quarter worth $89,000. Finally, nVerses Capital LLC increased its position in shares of Apellis Pharmaceuticals by 300.0% during the 2nd 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 and hedge funds own 96.29% of the company's stock.

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).