Wedbush Has Strong Forecast for APLS FY2029 Earnings

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Equities research analysts at Wedbush lifted their FY2029 earnings estimates for shares of Apellis Pharmaceuticals in a research report issued to clients and investors on Monday, March 3rd. Wedbush analyst L. Chico now forecasts that the company will earn $3.79 per share for the year, up from their previous forecast of $3.77. Wedbush currently has a “Neutral” rating and a $29.00 price target on the stock. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.70) per share.

APLS has been the subject of several other research reports. Citigroup reduced their price target on shares of Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Bank of America reduced their target price on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Oppenheimer decreased their price target on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Piper Sandler cut their price objective on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, November 6th. Finally, Royal Bank of Canada cut their price target on shares of Apellis Pharmaceuticals from $26.00 to $25.00 and set a “sector perform” rating on the stock in a report on Monday. Eight research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.71.

Apellis Pharmaceuticals Trading Down 4.3 %

Shares of NASDAQ:APLS opened at $24.06 on Tuesday. The company has a market cap of $2.99 billion, a PE ratio of -11.85 and a beta of 0.96. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. Apellis Pharmaceuticals has a 52 week low of $23.81 and a 52 week high of $66.00. The company’s 50 day moving average is $29.88 and its two-hundred day moving average is $31.48.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its quarterly earnings results on Friday, February 28th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The business had revenue of $212.50 million during the quarter, compared to analysts’ expectations of $197.92 million. During the same period in the prior year, the business posted ($0.73) EPS. The company’s revenue was up 45.2% compared to the same quarter last year.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in Apellis Pharmaceuticals by 23.3% in the third 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 last quarter. AlphaCentric Advisors LLC bought a new position in shares of Apellis Pharmaceuticals during the 3rd quarter valued at $1,370,000. GSA Capital Partners LLP acquired a new stake in shares of Apellis Pharmaceuticals in the 3rd quarter valued at $824,000. BNP Paribas Financial Markets boosted its holdings in Apellis Pharmaceuticals by 52.9% in the third quarter. BNP Paribas Financial Markets now owns 159,700 shares of the company’s stock worth $4,606,000 after purchasing an additional 55,282 shares in the last quarter. Finally, Old West Investment Management LLC acquired a new position in Apellis Pharmaceuticals during the third quarter worth $2,953,000. Institutional investors and hedge funds own 96.29% of the company’s stock.

Insider Transactions at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, CFO Timothy Eugene Sullivan sold 2,170 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $28.70, for a total transaction of $62,279.00. Following the transaction, the chief financial officer now owns 88,100 shares of the company’s stock, valued at $2,528,470. This trade represents a 2.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Cedric Francois sold 13,551 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total transaction of $412,356.93. Following the sale, the chief executive officer now owns 418,519 shares of the company’s stock, valued at approximately $12,735,533.17. The trade was a 3.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,365 shares of company stock valued at $1,810,479. 6.80% of the stock is currently owned by corporate insiders.

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).