Research Analysts Set Expectations for APLS FY2024 Earnings

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Wedbush decreased their FY2024 earnings per share (EPS) estimates for shares of Apellis Pharmaceuticals in a research note issued to investors on Tuesday, November 5th. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of ($1.77) for the year, down from their previous forecast 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) last issued its 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 during the quarter, compared to analyst estimates of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The business’s revenue for the quarter was up 78.3% on a year-over-year basis. During the same period in the previous year, the company earned ($1.17) earnings per share.

Other equities analysts have also recently issued research reports about the company. Oppenheimer cut their price objective on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Citigroup decreased their price objective on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday. Jefferies Financial Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Apellis Pharmaceuticals in a research note on Wednesday, July 31st. Finally, Robert W. Baird decreased their price target on Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday. Six 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.06.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS opened at $29.98 on Thursday. Apellis Pharmaceuticals has a 52 week low of $24.34 and a 52 week high of $73.80. The business’s 50-day simple moving average is $31.02 and its 200-day simple moving average is $37.02. The company has a debt-to-equity ratio of 1.73, a quick ratio of 4.18 and a current ratio of 5.08. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of -10.94 and a beta of 0.87.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. KBC Group NV boosted its stake in Apellis Pharmaceuticals by 34.8% in the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after purchasing an additional 679 shares during the period. GSA Capital Partners LLP bought a new position in Apellis Pharmaceuticals in the third quarter valued at $824,000. Wolverine Asset Management LLC acquired a new stake in Apellis Pharmaceuticals in the 3rd quarter valued at $27,000. State of New Jersey Common Pension Fund D increased its stake in Apellis Pharmaceuticals by 10.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 49,795 shares of the company’s stock valued at $1,436,000 after buying an additional 4,554 shares during the last quarter. Finally, Assetmark Inc. grew its stake in Apellis Pharmaceuticals by 6.6% in the third quarter. Assetmark Inc. now owns 46,065 shares of the company’s stock valued at $1,329,000 after purchasing an additional 2,852 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Activity at Apellis Pharmaceuticals

In other news, Director A. Sinclair Dunlop sold 37,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at $3,623,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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).