Apellis Pharmaceuticals (NASDAQ:APLS) Price Target Lowered to $57.00 at HC Wainwright

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective lowered by HC Wainwright from $83.00 to $57.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Apellis Pharmaceuticals’ Q4 2024 earnings at ($0.49) EPS, FY2024 earnings at ($1.79) 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.

A number of other equities analysts have also recently weighed in on the stock. William Blair initiated coverage on shares of Apellis Pharmaceuticals in a research report on Wednesday, October 16th. They set an “outperform” rating for the company. Wells Fargo & Company reduced their target price on shares of Apellis Pharmaceuticals from $47.00 to $43.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 24th. Robert W. Baird reduced their target price on shares of Apellis Pharmaceuticals from $96.00 to $92.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. Evercore ISI upgraded shares of Apellis Pharmaceuticals to a “strong-buy” rating in a report on Thursday, October 31st. Finally, Mizuho reduced their target price on shares of Apellis Pharmaceuticals from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Apellis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $51.06.

Apellis Pharmaceuticals Stock Performance

Apellis Pharmaceuticals stock opened at $29.98 on Wednesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 4.18. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -14.77 and a beta of 0.87. The firm has a 50 day simple moving average of $31.02 and a 200-day simple moving average of $36.94. Apellis Pharmaceuticals has a 1-year low of $24.34 and a 1-year high of $73.80.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). The company had revenue of $196.83 million for the quarter, compared to analysts’ expectations of $200.00 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. 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 business posted ($1.17) EPS. On average, analysts expect that Apellis Pharmaceuticals will post -1.5 EPS for the current year.

Insider Buying and Selling

In related news, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.23, for a total transaction of $1,340,510.00. Following the sale, the director now directly owns 100,000 shares in the company, valued at $3,623,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its position in Apellis Pharmaceuticals by 191.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,144,415 shares of the company’s stock worth $61,845,000 after purchasing an additional 1,409,707 shares during the last quarter. Fiera Capital Corp boosted its holdings in shares of Apellis Pharmaceuticals by 47.7% in the second quarter. Fiera Capital Corp now owns 1,401,190 shares of the company’s stock valued at $53,750,000 after acquiring an additional 452,753 shares in the last quarter. Iron Triangle Partners LP purchased a new stake in shares of Apellis Pharmaceuticals in the first quarter valued at about $32,329,000. Bank of New York Mellon Corp boosted its holdings in shares of Apellis Pharmaceuticals by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 345,195 shares of the company’s stock valued at $13,242,000 after acquiring an additional 22,273 shares in the last quarter. Finally, Altitude Crest Partners Inc. boosted its holdings in shares of Apellis Pharmaceuticals by 88.7% in the first quarter. Altitude Crest Partners Inc. now owns 287,277 shares of the company’s stock valued at $16,886,000 after acquiring an additional 135,077 shares in the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.

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).