Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Expected to Post Q1 2024 Earnings of ($0.83) Per Share

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Research analysts at Wedbush raised their Q1 2024 earnings per share estimates for Apellis Pharmaceuticals in a note issued to investors on Wednesday, April 17th. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of ($0.83) for the quarter, up from their prior estimate of ($0.88). Wedbush currently has a “Neutral” rating and a $57.00 price target on the stock. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.33) per share. Wedbush also issued estimates for Apellis Pharmaceuticals’ Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at ($2.18) EPS, FY2026 earnings at $4.50 EPS, FY2027 earnings at $6.53 EPS and FY2028 earnings at $8.24 EPS.

A number of other brokerages also recently weighed in on APLS. Jefferies Financial Group raised Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $80.00 in a research report on Monday, February 5th. UBS Group lifted their price objective on shares of Apellis Pharmaceuticals from $87.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Robert W. Baird reissued an “outperform” rating and issued a $81.00 price objective on shares of Apellis Pharmaceuticals in a research report on Tuesday, February 6th. Raymond James raised their target price on shares of Apellis Pharmaceuticals from $67.00 to $106.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Apellis Pharmaceuticals from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.93.

Apellis Pharmaceuticals Stock Performance

Shares of APLS stock opened at $47.53 on Friday. The company has a fifty day moving average price of $59.71 and a two-hundred day moving average price of $57.04. Apellis Pharmaceuticals has a one year low of $19.83 and a one year high of $94.75. The stock has a market cap of $5.73 billion, a P/E ratio of -10.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.10 and a quick ratio of 2.50.

Apellis Pharmaceuticals (NASDAQ:APLS) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.73) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.73). The firm had revenue of $146.38 million for the quarter, compared to analyst estimates of $143.34 million. Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The company’s revenue was up 545.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.50) EPS.

Insider Transactions at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, insider Pascal Deschatelets sold 69,107 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $54.17, for a total value of $3,743,526.19. Following the transaction, the insider now directly owns 1,115,983 shares of the company’s stock, valued at approximately $60,452,799.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director A. Sinclair Dunlop sold 18,681 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $57.18, for a total transaction of $1,068,179.58. Following the completion of the sale, the director now directly owns 173,998 shares in the company, valued at approximately $9,949,205.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Pascal Deschatelets sold 69,107 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $54.17, for a total value of $3,743,526.19. Following the completion of the transaction, the insider now owns 1,115,983 shares in the company, valued at approximately $60,452,799.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 406,651 shares of company stock valued at $25,130,257. 7.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in APLS. Allspring Global Investments Holdings LLC increased its position in Apellis Pharmaceuticals by 94.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 115,453 shares of the company’s stock worth $6,786,000 after purchasing an additional 56,178 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Apellis Pharmaceuticals by 14.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 14,068 shares of the company’s stock worth $827,000 after buying an additional 1,766 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Apellis Pharmaceuticals during the first quarter worth $29,000. Vanguard Group Inc. increased its holdings in shares of Apellis Pharmaceuticals by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 9,555,678 shares of the company’s stock worth $572,003,000 after buying an additional 85,701 shares in the last quarter. Finally, Sierra Summit Advisors LLC bought a new position in shares of Apellis Pharmaceuticals in the 4th quarter valued at $222,000. Institutional investors 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).