Wedbush Expects Reduced Earnings for Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS - Free Report) - Equities research analysts at Wedbush lowered their FY2028 earnings per share estimates for Apellis Pharmaceuticals in a research note issued to investors on Tuesday, July 1st. Wedbush analyst L. Chico now forecasts that the company will post earnings of $1.33 per share for the year, down from their previous estimate of $1.56. The consensus estimate for Apellis Pharmaceuticals' current full-year earnings is ($1.70) per share. Wedbush also issued estimates for Apellis Pharmaceuticals' FY2029 earnings at $2.62 EPS.

Several other research firms have also recently weighed in on APLS. Raymond James Financial cut Apellis Pharmaceuticals from a "strong-buy" rating to an "outperform" rating and cut their price objective for the company from $75.00 to $52.00 in a research report on Friday, May 9th. Needham & Company LLC lowered their target price on Apellis Pharmaceuticals from $40.00 to $29.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Citigroup dropped their price target on Apellis Pharmaceuticals from $49.00 to $41.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Wells Fargo & Company increased their price target on shares of Apellis Pharmaceuticals from $26.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Finally, Royal Bank Of Canada lowered their price objective on Apellis Pharmaceuticals from $21.00 to $18.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Apellis Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $39.79.

Apellis Pharmaceuticals Trading Up 0.9%

Shares of NASDAQ APLS traded up $0.17 during midday trading on Thursday, hitting $17.99. 891,120 shares of the company traded hands, compared to its average volume of 2,347,184. Apellis Pharmaceuticals has a 12-month low of $16.10 and a 12-month high of $42.47. The firm has a market cap of $2.26 billion, a P/E ratio of -10.05 and a beta of 0.67. The stock has a 50-day moving average price of $18.14 and a 200 day moving average price of $23.70. The company has a debt-to-equity ratio of 2.76, a quick ratio of 3.62 and a current ratio of 4.08.

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.38). Apellis Pharmaceuticals had a negative return on equity of 99.19% and a negative net margin of 28.83%. The company had revenue of $149.90 million during the quarter, compared to the consensus estimate of $197.61 million. During the same quarter last year, the company posted ($0.54) earnings per share. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Several large investors have recently modified their holdings of APLS. Avoro Capital Advisors LLC grew its stake in shares of Apellis Pharmaceuticals by 10.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 12,222,222 shares of the company's stock valued at $390,011,000 after buying an additional 1,111,111 shares during the last quarter. Vanguard Group Inc. grew its position in Apellis Pharmaceuticals by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 10,130,356 shares of the company's stock valued at $221,551,000 after acquiring an additional 84,331 shares during the last quarter. AQR Capital Management LLC grew its position in Apellis Pharmaceuticals by 119.6% in the 1st quarter. AQR Capital Management LLC now owns 4,077,419 shares of the company's stock valued at $89,173,000 after acquiring an additional 2,220,977 shares during the last quarter. Geode Capital Management LLC increased its stake in Apellis Pharmaceuticals by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,838,952 shares of the company's stock worth $58,699,000 after purchasing an additional 28,426 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of Apellis Pharmaceuticals by 1.8% during the fourth quarter. Deutsche Bank AG now owns 1,778,377 shares of the company's stock worth $56,748,000 after purchasing an additional 30,867 shares during the last quarter. Institutional investors own 96.29% of the company's stock.

Insider Activity at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $18.77, for a total transaction of $93,850.00. Following the completion of the sale, the general counsel directly owned 133,730 shares of the company's stock, valued at approximately $2,510,112.10. This represents a 3.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.50% of the stock is owned by 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).