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

Apellis Pharmaceuticals (NASDAQ:APLS) had its price target cut by Wedbush from $30.00 to $29.00 in a research report report published on Monday,Benzinga reports. They currently have 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.

Other equities research analysts also recently issued reports about the stock. Oppenheimer reduced their price target on shares of Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Scotiabank cut their target price on shares of Apellis Pharmaceuticals from $35.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 6th. Robert W. Baird cut their target price 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 initiated coverage on shares of Apellis Pharmaceuticals in a research note on Thursday, November 21st. They set an “equal weight” rating and a $31.00 target price on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $26.00 price objective on shares of Apellis Pharmaceuticals in a research report on Wednesday, January 29th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apellis Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $45.53.

Apellis Pharmaceuticals Stock Performance

NASDAQ:APLS opened at $26.00 on Monday. The company has a debt-to-equity ratio of 1.91, a current ratio of 4.36 and a quick ratio of 3.73. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -12.81 and a beta of 0.93. The company’s 50-day moving average is $29.53 and its two-hundred day moving average is $31.30. Apellis Pharmaceuticals has a 1-year low of $23.77 and a 1-year high of $64.33.

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. The company had revenue of $212.50 million for the quarter, compared to analyst estimates of $197.92 million. Apellis Pharmaceuticals had a negative net margin of 34.97% and a negative return on equity of 103.11%. Apellis Pharmaceuticals’s revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.73) EPS. Analysts forecast that Apellis Pharmaceuticals will post -1.7 EPS for the current year.

Insider Buying and Selling

In other news, insider Nur Nicholson sold 2,145 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $29.96, for a total value of $64,264.20. Following the completion of the sale, the insider now owns 52,011 shares in the company, valued at approximately $1,558,249.56. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Caroline Baumal sold 2,816 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $1,878,483.60. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,365 shares of company stock worth $1,810,479 in the last 90 days. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Avoro Capital Advisors LLC lifted its stake in shares of Apellis Pharmaceuticals by 10.0% in the 4th quarter. Avoro Capital Advisors LLC now owns 12,222,222 shares of the company’s stock worth $390,011,000 after acquiring an additional 1,111,111 shares during the period. Vanguard Group Inc. increased its holdings in shares of Apellis Pharmaceuticals by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 10,046,025 shares of the company’s stock valued at $320,569,000 after purchasing an additional 230,450 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Apellis Pharmaceuticals by 23.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,884,730 shares of the company’s stock valued at $112,036,000 after purchasing an additional 735,160 shares in the last quarter. Braidwell LP increased its holdings in shares of Apellis Pharmaceuticals by 410.8% in the 3rd 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 in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Apellis Pharmaceuticals by 51.6% in the 4th quarter. Jennison Associates LLC now owns 2,760,404 shares of the company’s stock valued at $88,084,000 after purchasing an additional 939,289 shares in the last quarter. Institutional investors and hedge funds 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).