Wedbush Predicts Lower Earnings for Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Investment analysts at Wedbush dropped their FY2028 EPS estimates for shares of Apellis Pharmaceuticals in a report released on Tuesday, July 1st. Wedbush analyst L. Chico now forecasts that the company will post earnings per share of $1.33 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.

APLS has been the subject of several other research reports. Mizuho lowered their price objective on shares of Apellis Pharmaceuticals from $30.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, May 14th. Scotiabank lowered their price objective on shares of Apellis Pharmaceuticals from $28.00 to $20.00 and set a “sector perform” rating for the company in a research report on Thursday, May 8th. Raymond James Financial cut shares of Apellis Pharmaceuticals from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $75.00 to $52.00 in a research report on Friday, May 9th. Royal Bank Of Canada reduced their target price on shares of Apellis Pharmaceuticals from $21.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 8th. Finally, Morgan Stanley raised their target price on shares of Apellis Pharmaceuticals from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.79.

Apellis Pharmaceuticals Trading Up 0.9%

APLS opened at $17.99 on Thursday. The company has a current ratio of 4.08, a quick ratio of 3.62 and a debt-to-equity ratio of 2.76. The stock has a market capitalization of $2.26 billion, a PE ratio of -10.05 and a beta of 0.67. Apellis Pharmaceuticals has a 1-year low of $16.10 and a 1-year high of $42.47. The firm has a 50-day moving average price of $18.15 and a two-hundred day moving average price of $23.59.

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

Insiders Place Their Bets

In related news, General Counsel David O. Watson sold 5,000 shares of Apellis Pharmaceuticals 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 transaction, the general counsel owned 133,730 shares of the company’s stock, valued at $2,510,112.10. This trade represents a 3.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of APLS. EverSource Wealth Advisors LLC boosted its stake in Apellis Pharmaceuticals by 2,707.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 786 shares of the company’s stock worth $25,000 after acquiring an additional 758 shares during the last quarter. Assetmark Inc. boosted its stake in Apellis Pharmaceuticals by 3,938.7% during the 1st quarter. Assetmark Inc. now owns 1,252 shares of the company’s stock worth $27,000 after acquiring an additional 1,221 shares during the last quarter. Signaturefd LLC boosted its stake in Apellis Pharmaceuticals by 357.2% during the 4th quarter. Signaturefd LLC now owns 1,175 shares of the company’s stock worth $37,000 after acquiring an additional 918 shares during the last quarter. GF Fund Management CO. LTD. boosted its stake in Apellis Pharmaceuticals by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 3,185 shares of the company’s stock worth $70,000 after acquiring an additional 573 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Apellis Pharmaceuticals by 70.0% during the 4th quarter. US Bancorp DE now owns 3,223 shares of the company’s stock worth $103,000 after buying an additional 1,327 shares during the period. Institutional investors own 96.29% 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).