Wedbush Cuts Apellis Pharmaceuticals (NASDAQ:APLS) Price Target to $29.00

Apellis Pharmaceuticals (NASDAQ:APLS) had its price objective lowered by Wedbush from $30.00 to $29.00 in a report issued on Monday morning,Benzinga reports. Wedbush currently has a neutral rating on the stock. Wedbush also issued estimates for Apellis Pharmaceuticals’ Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.34) EPS, Q3 2025 earnings at ($0.41) EPS, Q4 2025 earnings at ($0.33) EPS, FY2025 earnings at ($1.51) EPS, FY2026 earnings at ($0.87) EPS, FY2027 earnings at $1.04 EPS, FY2028 earnings at $2.28 EPS and FY2029 earnings at $3.79 EPS.

Several other research firms also recently weighed in on APLS. Bank of America dropped their target price on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group cut shares of Apellis Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $36.00 price target on the stock. in a research note on Tuesday, December 17th. Robert W. Baird decreased their price target on shares of Apellis Pharmaceuticals from $92.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley assumed coverage on shares of Apellis Pharmaceuticals in a research note on Thursday, November 21st. They set an “equal weight” rating and a $31.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $57.00 price target on shares of Apellis Pharmaceuticals in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Apellis Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $45.53.

Apellis Pharmaceuticals Stock Performance

Shares of APLS opened at $26.00 on Monday. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91. The company has a 50-day simple moving average of $29.53 and a 200-day simple moving average of $31.30. Apellis Pharmaceuticals has a 52-week low of $23.77 and a 52-week high of $64.33. The company has a market capitalization of $3.23 billion, a PE ratio of -12.81 and a beta of 0.93.

Apellis Pharmaceuticals (NASDAQ:APLS) last posted its earnings results on Friday, February 28th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.08. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. The firm had revenue of $212.50 million during the quarter, compared to the consensus estimate of $197.92 million. During the same period last year, the firm posted ($0.73) EPS. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. Equities research analysts predict that Apellis Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, insider Caroline Baumal sold 2,816 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $33.81, for a total transaction of $95,208.96. Following the transaction, the insider now directly owns 55,560 shares of the company’s stock, valued at $1,878,483.60. The trade was a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nur Nicholson sold 2,145 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $29.96, for a total transaction of $64,264.20. Following the transaction, the insider now directly owns 52,011 shares in the company, valued at approximately $1,558,249.56. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,365 shares of company stock valued at $1,810,479 over the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

A number of hedge funds have recently made changes to their positions in APLS. Braidwell LP raised its stake in shares of Apellis Pharmaceuticals by 410.8% during the third quarter. Braidwell LP now owns 3,125,183 shares of the company’s stock valued at $90,130,000 after purchasing an additional 2,513,383 shares during the period. Boxer Capital Management LLC acquired a new stake in Apellis Pharmaceuticals in the fourth quarter valued at $45,504,000. National Bank of Canada FI raised its holdings in Apellis Pharmaceuticals by 266,361.5% in the fourth quarter. National Bank of Canada FI now owns 1,385,600 shares of the company’s stock valued at $44,214,000 after acquiring an additional 1,385,080 shares in the last quarter. Royal Bank of Canada raised its holdings in Apellis Pharmaceuticals by 969.6% in the fourth quarter. Royal Bank of Canada now owns 1,518,827 shares of the company’s stock valued at $48,465,000 after acquiring an additional 1,376,832 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new stake in Apellis Pharmaceuticals in the fourth quarter valued at $41,014,000. Hedge funds and other institutional investors own 96.29% 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).