Apellis Pharmaceuticals (NASDAQ:APLS) Issues Earnings Results

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

Apellis Pharmaceuticals Stock Performance

Shares of APLS traded down $0.11 during midday trading on Thursday, reaching $41.01. 8,392,532 shares of the stock were exchanged, compared to its average volume of 3,822,692. Apellis Pharmaceuticals has a twelve month low of $16.10 and a twelve month high of $41.14. The company has a quick ratio of 2.70, a current ratio of 3.14 and a debt-to-equity ratio of 0.98. The company has a market cap of $5.25 billion, a P/E ratio of 315.49 and a beta of -0.24. The stock’s 50 day simple moving average is $30.34 and its 200 day simple moving average is $25.59.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Cantor Fitzgerald cut shares of Apellis Pharmaceuticals from an “overweight” rating to a “hold” rating in a research report on Tuesday, March 31st. Barclays lifted their price objective on shares of Apellis Pharmaceuticals from $24.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 1st. William Blair cut shares of Apellis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada reduced their price objective on shares of Apellis Pharmaceuticals from $22.00 to $21.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 25th. Finally, Jefferies Financial Group cut shares of Apellis Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Three analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.89.

Institutional Investors Weigh In On Apellis Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of APLS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Apellis Pharmaceuticals by 207.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,559 shares of the company’s stock worth $667,000 after buying an additional 19,944 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Apellis Pharmaceuticals by 26.6% during the first quarter. Goldman Sachs Group Inc. now owns 307,709 shares of the company’s stock worth $6,730,000 after buying an additional 64,742 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Apellis Pharmaceuticals by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,634 shares of the company’s stock worth $4,869,000 after buying an additional 9,747 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of Apellis Pharmaceuticals by 118.4% during the first quarter. Focus Partners Wealth now owns 21,883 shares of the company’s stock worth $479,000 after buying an additional 11,862 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Apellis Pharmaceuticals by 1,146.2% during the first quarter. Acadian Asset Management LLC now owns 23,976 shares of the company’s stock worth $522,000 after buying an additional 22,052 shares in the last quarter. Institutional investors and hedge funds own 96.29% of the company’s stock.

Apellis Pharmaceuticals Company Profile

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.