Wedbush Has Lowered Expectations for Apellis Pharmaceuticals (NASDAQ:APLS) Stock Price

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) had its price objective decreased by analysts at Wedbush from $30.00 to $29.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Wedbush's target price suggests a potential upside of 14.53% from the company's current price. Wedbush also issued estimates for Apellis Pharmaceuticals' Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.34) EPS, Q3 2025 earnings at ($0.41) EPS, Q4 2025 earnings at ($0.33) EPS, FY2025 earnings at ($1.51) EPS, FY2026 earnings at ($0.87) EPS, FY2027 earnings at $1.04 EPS, FY2028 earnings at $2.28 EPS and FY2029 earnings at $3.79 EPS.

A number of other analysts have also commented on APLS. Needham & Company LLC decreased their price target on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, November 6th. Oppenheimer decreased their target price on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, November 6th. HC Wainwright reaffirmed a "buy" rating and issued a $57.00 price target on shares of Apellis Pharmaceuticals in a research report on Monday. Bank of America decreased their price objective on Apellis Pharmaceuticals from $61.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday, November 6th. Finally, Robert W. Baird lowered their price objective on Apellis Pharmaceuticals from $92.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, November 7th. 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 company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $45.53.

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Apellis Pharmaceuticals Stock Down 2.6 %

Shares of APLS stock traded down $0.68 on Monday, reaching $25.32. 1,186,955 shares of the company were exchanged, compared to its average volume of 1,921,061. 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 company has a 50-day moving average of $29.38 and a 200-day moving average of $31.26. The company has a market cap of $3.15 billion, a price-to-earnings ratio of -12.47 and a beta of 0.93. Apellis Pharmaceuticals has a one year low of $23.77 and a one year high of $64.33.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last announced its quarterly earnings results on Friday, February 28th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.08. The business had revenue of $212.50 million for the quarter, compared to analyst estimates of $197.92 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The company's quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.73) earnings per share. Analysts anticipate that Apellis Pharmaceuticals will post -1.7 earnings per share for the current year.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, CAO James George Chopas sold 1,096 shares of the firm's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $30.43, for a total value of $33,351.28. Following the completion of the sale, the chief accounting officer now directly owns 48,138 shares of the company's stock, valued at $1,464,839.34. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Cedric Francois sold 6,247 shares of the business's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $28.70, for a total value of $179,288.90. Following the completion of the sale, the chief executive officer now owns 307,415 shares in the company, valued at approximately $8,822,810.50. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,365 shares of company stock valued at $1,810,479. Company insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Apellis Pharmaceuticals by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company's stock worth $112,036,000 after buying an additional 735,160 shares during the period. AlphaCentric Advisors LLC purchased a new position in shares of Apellis Pharmaceuticals in the third quarter valued at $1,370,000. GSA Capital Partners LLP purchased a new position in shares of Apellis Pharmaceuticals in the third quarter valued at $824,000. BNP Paribas Financial Markets raised its stake in shares of Apellis Pharmaceuticals by 52.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 159,700 shares of the company's stock valued at $4,606,000 after purchasing an additional 55,282 shares during the period. Finally, Old West Investment Management LLC purchased a new stake in Apellis Pharmaceuticals during the 3rd quarter worth about $2,953,000. Hedge funds and other institutional investors own 96.29% 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).