Apellis Pharmaceuticals (NASDAQ:APLS) Issues Earnings Results, Beats Estimates By $0.53 EPS

Apellis Pharmaceuticals (NASDAQ:APLS) announced its quarterly earnings results on Thursday. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.53, FiscalAI reports. The firm had revenue of $268.30 million during the quarter, compared to the consensus estimate of $203.58 million. Apellis Pharmaceuticals had a return on equity of 8.20% and a net margin of 2.23%.

Apellis Pharmaceuticals Stock Performance

NASDAQ APLS traded up $0.02 on Friday, reaching $41.03. The stock had a trading volume of 6,100,051 shares, compared to its average volume of 4,604,122. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.70 and a current ratio of 3.14. Apellis Pharmaceuticals has a 12-month low of $16.10 and a 12-month high of $41.14. The business’s 50-day moving average price is $30.34 and its 200 day moving average price is $25.59. The stock has a market cap of $5.25 billion, a P/E ratio of 315.65 and a beta of -0.24.

Analyst Ratings Changes

A number of equities analysts recently issued reports on APLS shares. Barclays upped their price target on Apellis Pharmaceuticals from $24.00 to $41.00 and gave the company an “equal weight” rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $41.00 price target (up from $37.00) on shares of Apellis Pharmaceuticals in a report on Wednesday, April 1st. Roth Mkm downgraded Apellis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 2nd. Mizuho upped their price target on Apellis Pharmaceuticals from $20.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. Finally, Needham & Company LLC downgraded Apellis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, March 31st. Three equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Apellis Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $35.72.

Institutional Investors Weigh In On Apellis Pharmaceuticals

Several large investors have recently modified their holdings of APLS. Osaic Holdings Inc. raised its stake in shares of Apellis Pharmaceuticals by 141.2% during the second quarter. Osaic Holdings Inc. now owns 2,682 shares of the company’s stock worth $47,000 after purchasing an additional 1,570 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Apellis Pharmaceuticals during the third quarter worth approximately $64,000. EverSource Wealth Advisors LLC raised its stake in shares of Apellis Pharmaceuticals by 338.5% during the second quarter. EverSource Wealth Advisors LLC now owns 5,429 shares of the company’s stock worth $94,000 after purchasing an additional 4,191 shares during the last quarter. Headlands Technologies LLC raised its stake in shares of Apellis Pharmaceuticals by 748.8% during the second quarter. Headlands Technologies LLC now owns 6,892 shares of the company’s stock worth $119,000 after purchasing an additional 6,080 shares during the last quarter. Finally, Laurel Oak Wealth Management LLC purchased a new stake in shares of Apellis Pharmaceuticals during the fourth quarter worth approximately $213,000. Hedge funds and other institutional investors own 96.29% of the company’s stock.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.