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

Apellis Pharmaceuticals, Inc. (NASDAQ:APLSFree Report) – Wedbush increased their Q1 2024 earnings per share estimates for Apellis Pharmaceuticals in a research note issued to investors on Wednesday, April 17th. Wedbush analyst L. Chico now anticipates that the company will post earnings per share of ($0.83) for the quarter, up from their prior forecast of ($0.88). 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 ($1.33) 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.

APLS has been the subject of several other research reports. Mizuho reissued a “neutral” rating and issued a $60.00 price target on shares of Apellis Pharmaceuticals in a report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price target on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Robert W. Baird reissued an “outperform” rating and issued a $81.00 price target on shares of Apellis Pharmaceuticals in a report on Tuesday, February 6th. Oppenheimer raised their price target on Apellis Pharmaceuticals from $75.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Finally, HC Wainwright reissued a “buy” rating and issued a $92.00 price target on shares of Apellis Pharmaceuticals in a report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $77.93.

Get Our Latest Stock Report on APLS

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ APLS opened at $47.53 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.50 and a current ratio of 3.10. The company has a market cap of $5.73 billion, a PE ratio of -10.61 and a beta of 0.88. The business has a 50-day simple moving average of $59.71 and a two-hundred day simple moving average of $57.04. Apellis Pharmaceuticals has a fifty-two week low of $19.83 and a fifty-two week high of $94.75.

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

Insider Transactions at Apellis Pharmaceuticals

In other news, CAO James George Chopas sold 1,061 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $65.00, for a total value of $68,965.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,067 shares in the company, valued at $2,539,355. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Apellis Pharmaceuticals news, CAO James George Chopas sold 1,061 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $65.00, for a total value of $68,965.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,067 shares of the company’s stock, valued at $2,539,355. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director A. Sinclair Dunlop sold 18,681 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $57.18, for a total value of $1,068,179.58. Following the completion of the transaction, the director now directly owns 173,998 shares of the company’s stock, valued at $9,949,205.64. The disclosure for this sale can be found here. Insiders sold a total of 406,651 shares of company stock worth $25,130,257 over the last three months. 7.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wynnefield Capital Inc. acquired a new position in Apellis Pharmaceuticals in the third quarter valued at approximately $380,000. General American Investors Co. Inc. acquired a new position in shares of Apellis Pharmaceuticals during the 3rd quarter worth approximately $1,712,000. Profund Advisors LLC raised its stake in shares of Apellis Pharmaceuticals by 114.5% during the 3rd quarter. Profund Advisors LLC now owns 35,153 shares of the company’s stock worth $1,337,000 after buying an additional 18,766 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Apellis Pharmaceuticals by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 879,357 shares of the company’s stock worth $33,451,000 after buying an additional 50,835 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Apellis Pharmaceuticals by 109.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,145,004 shares of the company’s stock worth $128,400,000 after buying an additional 1,121,497 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

Apellis Pharmaceuticals Company Profile

(Get Free Report)

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).

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Earnings History and Estimates for Apellis Pharmaceuticals (NASDAQ:APLS)

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