What is William Blair’s Forecast for APLS FY2024 Earnings?

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Investment analysts at William Blair increased their FY2024 earnings per share estimates for Apellis Pharmaceuticals in a research note issued on Tuesday, January 21st. William Blair analyst L. Hanbury-Brown now anticipates that the company will post earnings per share of ($1.62) for the year, up from their previous estimate of ($1.71). William Blair has a “Outperform” rating on the stock. The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.71) per share. William Blair also issued estimates for Apellis Pharmaceuticals’ Q4 2024 earnings at ($0.32) EPS and FY2025 earnings at ($0.95) EPS.

APLS has been the subject of several other reports. Piper Sandler lowered their price objective on Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Evercore ISI raised Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. Needham & Company LLC cut their price target on shares of Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Wells Fargo & Company reduced their target price on Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $26.00 price objective on shares of Apellis Pharmaceuticals in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apellis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.71.

Apellis Pharmaceuticals Price Performance

Shares of Apellis Pharmaceuticals stock opened at $30.39 on Thursday. Apellis Pharmaceuticals has a 12 month low of $24.34 and a 12 month high of $71.90. The business has a 50-day moving average of $31.95 and a 200 day moving average of $33.25. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.73 and a current ratio of 4.36.

Apellis Pharmaceuticals (NASDAQ:APLS) last released its earnings results on Tuesday, November 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.14). Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The business had revenue of $196.83 million for the quarter, compared to analysts’ expectations of $200.00 million. During the same period in the previous year, the company earned ($1.17) EPS. Apellis Pharmaceuticals’s quarterly revenue was up 78.3% compared to the same quarter last year.

Hedge Funds Weigh In On Apellis Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wolverine Asset Management LLC bought a new position in shares of Apellis Pharmaceuticals in the 3rd quarter worth about $27,000. True Wealth Design LLC bought a new position in shares of Apellis Pharmaceuticals during the third quarter valued at $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Apellis Pharmaceuticals during the 3rd quarter valued at about $56,000. KBC Group NV grew its position in Apellis Pharmaceuticals by 34.8% in the 3rd quarter. KBC Group NV now owns 2,632 shares of the company’s stock worth $76,000 after purchasing an additional 679 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Apellis Pharmaceuticals by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,404 shares of the company’s stock valued at $130,000 after acquiring an additional 781 shares during the last quarter. Institutional investors own 96.29% of the company’s stock.

Insider Activity

In other Apellis Pharmaceuticals news, CFO Timothy Eugene Sullivan sold 1,730 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $29.96, for a total transaction of $51,830.80. Following the completion of the transaction, the chief financial officer now directly owns 86,370 shares of the company’s stock, valued at approximately $2,587,645.20. This represents a 1.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Caroline Baumal sold 2,816 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $33.81, for a total transaction of $95,208.96. Following the completion of the sale, the insider now owns 55,560 shares in the company, valued at $1,878,483.60. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,106 shares of company stock worth $894,834 over the last three months. Corporate insiders own 6.80% 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).