Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Forecasted to Post Q2 2024 Earnings of ($0.41) Per Share

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) - Analysts at Wedbush increased their Q2 2024 earnings estimates for Apellis Pharmaceuticals in a report issued on Wednesday, May 15th. Wedbush analyst L. Chico now expects that the company will post earnings of ($0.41) per share for the quarter, up from their previous forecast of ($0.42). Wedbush has a "Neutral" rating and a $57.00 price target on the stock. The consensus estimate for Apellis Pharmaceuticals' current full-year earnings is ($1.11) per share. Wedbush also issued estimates for Apellis Pharmaceuticals' FY2024 earnings at ($1.49) EPS, Q1 2025 earnings at ($0.17) EPS, Q4 2025 earnings at $1.00 EPS and FY2025 earnings at $1.15 EPS.

A number of other research analysts also recently weighed in on APLS. Mizuho dropped their price target on Apellis Pharmaceuticals from $60.00 to $52.00 and set a "neutral" rating on the stock in a research note on Monday, April 29th. HC Wainwright reiterated a "buy" rating and issued a $92.00 target price on shares of Apellis Pharmaceuticals in a report on Wednesday, May 8th. JPMorgan Chase & Co. lifted their price target on shares of Apellis Pharmaceuticals from $78.00 to $79.00 and gave the company an "overweight" rating in a research report on Wednesday, March 6th. Needham & Company LLC restated a "buy" rating and set a $85.00 price objective on shares of Apellis Pharmaceuticals in a report on Wednesday, May 8th. Finally, Oppenheimer raised their price objective on shares of Apellis Pharmaceuticals from $75.00 to $79.00 and gave the company an "outperform" rating in a research note on Tuesday, January 30th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $76.67.

Apellis Pharmaceuticals Stock Down 1.6 %

Shares of NASDAQ APLS traded down $0.69 during trading on Friday, hitting $41.31. 865,911 shares of the company traded hands, compared to its average volume of 1,555,809. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of -11.94 and a beta of 0.97. The business's fifty day moving average is $51.42 and its 200 day moving average is $57.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.02 and a current ratio of 3.77. Apellis Pharmaceuticals has a fifty-two week low of $19.83 and a fifty-two week high of $94.75.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.54) earnings per share for the quarter, meeting the consensus estimate of ($0.54). The company had revenue of $172.33 million during the quarter, compared to analyst estimates of $163.37 million. Apellis Pharmaceuticals had a negative net margin of 79.67% and a negative return on equity of 160.77%. Apellis Pharmaceuticals's revenue for the quarter was up 284.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.56) EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APLS. Comerica Bank raised its stake in Apellis Pharmaceuticals by 500.7% in the 1st quarter. Comerica Bank now owns 8,163 shares of the company's stock valued at $480,000 after acquiring an additional 6,804 shares during the period. Tidal Investments LLC bought a new stake in shares of Apellis Pharmaceuticals in the first quarter valued at approximately $266,000. Iron Triangle Partners LP purchased a new stake in shares of Apellis Pharmaceuticals during the 1st quarter valued at approximately $32,329,000. Jacobs Levy Equity Management Inc. boosted its holdings in Apellis Pharmaceuticals by 4.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 20,057 shares of the company's stock worth $1,179,000 after buying an additional 903 shares during the period. Finally, Redmile Group LLC purchased a new position in Apellis Pharmaceuticals in the 1st quarter valued at approximately $9,111,000. Hedge funds and other institutional investors own 96.29% of the company's stock.

Insiders Place Their Bets

In other news, insider Nur Nicholson sold 11,220 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $57.56, for a total transaction of $645,823.20. Following the completion of the sale, the insider now directly owns 56,287 shares of the company's stock, valued at approximately $3,239,879.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Cedric Francois sold 250,000 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $64.11, for a total value of $16,027,500.00. Following the transaction, the chief executive officer now owns 313,662 shares in the company, valued at $20,108,870.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nur Nicholson sold 11,220 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $57.56, for a total value of $645,823.20. Following the transaction, the insider now directly owns 56,287 shares of the company's stock, valued at $3,239,879.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 448,012 shares of company stock valued at $26,015,139. Insiders own 7.50% 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).