What is Wedbush’s Estimate for APLS FY2024 Earnings?

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Analysts at Wedbush boosted their FY2024 EPS estimates for Apellis Pharmaceuticals in a report released on Thursday, January 23rd. Wedbush analyst L. Chico now forecasts that the company will post earnings of ($1.75) per share for the year, up from their previous estimate of ($1.77). The consensus estimate for Apellis Pharmaceuticals’ current full-year earnings is ($1.70) per share. Wedbush also issued estimates for Apellis Pharmaceuticals’ Q4 2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.50) EPS, Q2 2025 earnings at ($0.47) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.36) EPS, FY2025 earnings at ($1.75) EPS, FY2026 earnings at ($0.94) EPS, FY2027 earnings at $0.96 EPS, FY2028 earnings at $2.23 EPS and FY2029 earnings at $3.77 EPS.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $200.00 million. During the same period in the prior year, the firm posted ($1.17) EPS. The firm’s revenue for the quarter was up 78.3% on a year-over-year basis.

A number of other research analysts also recently weighed in on the stock. Robert W. Baird decreased their price target on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Citigroup reduced their price objective on Apellis Pharmaceuticals from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Needham & Company LLC lowered their target price on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. William Blair assumed coverage on Apellis Pharmaceuticals in a research note on Wednesday, October 16th. They set an “outperform” rating for the company. Finally, Evercore ISI upgraded Apellis Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, October 31st. Eight investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.71.

Apellis Pharmaceuticals Stock Performance

NASDAQ APLS opened at $29.28 on Monday. The company has a market capitalization of $3.64 billion, a PE ratio of -14.42 and a beta of 0.94. 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 has a 52-week low of $24.34 and a 52-week high of $71.90. The company has a 50-day simple moving average of $32.16 and a 200 day simple moving average of $32.99.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of APLS. Envestnet Asset Management Inc. lifted its position in shares of Apellis Pharmaceuticals by 42.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 134,536 shares of the company’s stock worth $5,161,000 after purchasing an additional 39,931 shares during the period. Amalgamated Bank raised its stake in Apellis Pharmaceuticals by 5.4% in the second quarter. Amalgamated Bank now owns 6,995 shares of the company’s stock worth $268,000 after buying an additional 359 shares in the last quarter. Xponance Inc. lifted its holdings in Apellis Pharmaceuticals by 7.6% in the second quarter. Xponance Inc. now owns 13,773 shares of the company’s stock worth $528,000 after buying an additional 968 shares during the period. Squarepoint Ops LLC bought a new stake in Apellis Pharmaceuticals during the 2nd quarter valued at approximately $2,350,000. Finally, Toronto Dominion Bank grew its holdings in shares of Apellis Pharmaceuticals by 146.0% during the 2nd quarter. Toronto Dominion Bank now owns 24,600 shares of the company’s stock worth $944,000 after acquiring an additional 14,601 shares during the period. Institutional investors own 96.29% of the company’s stock.

Insider Activity

In related news, CAO James George Chopas sold 1,096 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $30.43, for a total transaction of $33,351.28. Following the completion of the sale, the chief accounting officer now directly owns 48,138 shares in the company, valued at $1,464,839.34. This represents a 2.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Timothy Eugene Sullivan sold 2,170 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $28.70, for a total transaction of $62,279.00. Following the completion of the sale, the chief financial officer now directly owns 88,100 shares in the company, valued at approximately $2,528,470. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,112 shares of company stock valued at $1,655,767. 6.80% of the stock is currently owned by insiders.

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).