Analysts Set Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) Price Target at $49.94

On December 24, 2024, analysts reported that Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) has received an average rating of "Moderate Buy" from a total of twenty analysts following the company, according to Marketbeat.com. Among these analysts, eight recommended holding the stock, ten provided a buy recommendation, and two rated it as a strong buy. The consensus twelve-month target price for Apellis Pharmaceuticals stands at $49.94 based on evaluations from several brokers in the past year.

Recent evaluations from various analysts show some adjustments to price targets. For instance, HC Wainwright decreased its forecast from $83.00 to $57.00 while maintaining a "buy" rating. Similarly, Wells Fargo & Company reduced their target from $43.00 to $30.00 and set an "equal weight" rating. Oppenheimer also lowered its price target from $65.00 to $40.00 with a rating of "outperform". Piper Sandler adjusted their target from $40.00 to $32.00, establishing a "neutral" rating. Lastly, The Goldman Sachs Group downgraded their rating from "buy" to "neutral", setting a price objective of $36.00.

Recent Institutional Activity

A number of institutional investors have modified their holdings in Apellis Pharmaceuticals recently. Braidwell LP notably increased its stake by 410.8% during the third quarter, now owning 3,125,183 shares valued at approximately $90.13 million, following the purchase of 2,513,383 additional shares. Assenagon Asset Management S.A. also expanded its holdings by 191.9%, accumulating 2,144,415 shares worth $61.85 million after purchasing 1,409,707 shares. Fiera Capital Corp grew its position by 47.7%, owning 1,401,190 shares valued at $53.75 million after acquiring an additional 452,753 shares. Other institutional investments include a new stake from Sphera Funds Management LTD. valued at $6.23 million, and AQR Capital Management LLC, which raised its stake by 337.3%. Currently, approximately 96.29% of Apellis Pharmaceuticals stock is owned by hedge funds and other institutional investors.

Stock Performance Overview

On Friday, Apellis Pharmaceuticals' shares opened at $33.21. The company shows strong liquidity ratios with a current ratio of 4.36 and a quick ratio of 3.73, while its debt-to-equity ratio is recorded at 1.91. The 50-day moving average price is $30.43, and the 200-day moving average sits at $34.44. The firm's market capitalization is about $4.13 billion, with a P/E ratio of -16.36, and the stock has experienced a 1-year low of $24.34 and a high of $73.80.

In its most recent earnings announcement on November 5, the company reported a loss of ($0.46) earnings per share (EPS), which was below the consensus estimate of ($0.32) by ($0.14). Revenue for the quarter was $196.83 million, slightly under the expected $200 million. Apellis Pharmaceuticals has shown significant growth year-over-year, with a 78.3% increase in revenue compared to the previous year's quarter. Analysts currently estimate that Apellis Pharmaceuticals will report -1.72 earnings per share for the current fiscal year.

Company Background

Apellis Pharmaceuticals, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing therapeutic compounds to treat autoimmune and inflammatory diseases through the inhibition of the complement system. The company offers EMPAVELI for treating paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy, and other related conditions, as well as SYFOVRE for treating geographic atrophy caused by age-related macular degeneration.

Analysts, Pharmaceuticals, Investors