William Blair Has Strong Forecast for APLS FY2024 Earnings

Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) – Research analysts at William Blair upped their FY2024 earnings estimates for Apellis Pharmaceuticals in a report issued on Tuesday, January 21st. William Blair analyst L. Hanbury-Brown now expects that the company will post earnings of ($1.62) per share for the year, up from their previous forecast 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.

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

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company reduced their target price on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. HC Wainwright reissued a “buy” rating and set a $57.00 price target on shares of Apellis Pharmaceuticals in a report on Tuesday, January 14th. Oppenheimer decreased their price target on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Piper Sandler dropped their price target 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. Finally, Needham & Company LLC reduced their price target 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. 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, Apellis Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $46.71.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS opened at $30.39 on Thursday. The company has a 50 day simple moving average of $31.95 and a 200-day simple 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 has a 1 year low of $24.34 and a 1 year high of $71.90.

Insider Activity at Apellis Pharmaceuticals

In related news, CFO Timothy Eugene Sullivan sold 2,170 shares of Apellis Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief financial officer now owns 88,100 shares of the company’s stock, valued at $2,528,470. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Caroline Baumal sold 2,816 shares of Apellis Pharmaceuticals stock in a transaction dated 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 directly owns 55,560 shares in the company, valued at approximately $1,878,483.60. This represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,106 shares of company stock worth $894,834 in the last ninety days. 6.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Apellis Pharmaceuticals

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

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).