Wedbush Comments on Apellis Pharmaceuticals, Inc.’s Q1 2024 Earnings (NASDAQ:APLS)

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Research analysts at Wedbush upped their Q1 2024 earnings per share (EPS) estimates for shares of Apellis Pharmaceuticals in a report issued on Wednesday, April 17th. Wedbush analyst L. Chico now expects that the company will post earnings of ($0.83) per share for the quarter, up from their previous 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.

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

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price target on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Oppenheimer boosted their target price on Apellis Pharmaceuticals from $75.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. The Goldman Sachs Group boosted their target price on Apellis Pharmaceuticals from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Needham & Company LLC restated a “buy” rating and issued a $85.00 target price on shares of Apellis Pharmaceuticals in a report on Tuesday, April 9th. Finally, Raymond James boosted their target price on Apellis Pharmaceuticals from $67.00 to $106.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 11th. Three 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.93.

Apellis Pharmaceuticals Trading Down 1.1 %

Shares of NASDAQ APLS opened at $47.51 on Friday. The business has a 50 day simple moving average of $60.13 and a 200 day simple moving average of $56.97. Apellis Pharmaceuticals has a 52 week low of $19.83 and a 52 week high of $94.75. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.10 and a quick ratio of 2.50.

Institutional Trading of Apellis Pharmaceuticals

Large investors have recently made changes to their positions in the business. Future Financial Wealth Managment LLC bought a new stake in shares of Apellis Pharmaceuticals during the first quarter worth $29,000. First Horizon Advisors Inc. grew its holdings in shares of Apellis Pharmaceuticals by 69.0% during the third quarter. First Horizon Advisors Inc. now owns 649 shares of the company’s stock worth $25,000 after purchasing an additional 265 shares during the last quarter. Covestor Ltd grew its holdings in shares of Apellis Pharmaceuticals by 564.2% during the third quarter. Covestor Ltd now owns 797 shares of the company’s stock worth $30,000 after purchasing an additional 677 shares during the last quarter. Stephens Consulting LLC bought a new stake in shares of Apellis Pharmaceuticals during the third quarter worth $38,000. Finally, US Bancorp DE grew its holdings in shares of Apellis Pharmaceuticals by 391.2% during the first quarter. US Bancorp DE now owns 1,110 shares of the company’s stock worth $56,000 after purchasing an additional 884 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals 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 value of $1,068,179.58. Following the sale, the director now directly owns 173,998 shares in the company, valued at $9,949,205.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apellis Pharmaceuticals 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 value of $1,068,179.58. Following the sale, the director now directly owns 173,998 shares in the company, valued at $9,949,205.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam J. Townsend sold 3,413 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $65.00, for a total value of $221,845.00. Following the completion of the sale, the insider now owns 94,507 shares in the company, valued at $6,142,955. The disclosure for this sale can be found here. Insiders have sold 406,651 shares of company stock worth $25,130,257 over the last three months. Company insiders own 7.50% 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).