Apellis Pharmaceuticals Inc (APLS) Forecasted to Post FY2017 Earnings of ($0.51) Per Share

Apellis Pharmaceuticals Inc (NASDAQ:APLS) – Analysts at B. Riley issued their FY2017 earnings estimates for Apellis Pharmaceuticals in a report issued on Wednesday. B. Riley analyst M. Kummetz forecasts that the company will post earnings per share of ($0.51) for the year. B. Riley has a “Buy” rating and a $27.00 price target on the stock. B. Riley also issued estimates for Apellis Pharmaceuticals’ FY2018 earnings at ($0.65) EPS, FY2019 earnings at ($0.72) EPS, FY2020 earnings at ($0.94) EPS, FY2021 earnings at ($0.69) EPS and FY2022 earnings at ($0.10) EPS.

Several other research firms have also commented on APLS. Evercore ISI began coverage on shares of Apellis Pharmaceuticals in a research report on Monday, December 4th. They set an “outperform” rating for the company. Citigroup began coverage on shares of Apellis Pharmaceuticals in a research report on Monday, December 4th. They set a “buy” rating and a $23.00 price target for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Apellis Pharmaceuticals in a research report on Monday, December 4th. They set an “overweight” rating and a $31.00 price target for the company.

Shares of Apellis Pharmaceuticals (NASDAQ:APLS) opened at $14.01 on Monday. Apellis Pharmaceuticals has a 52-week low of $12.45 and a 52-week high of $25.49.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APLS. American International Group Inc. purchased a new stake in shares of Apellis Pharmaceuticals during the 4th quarter valued at about $158,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Apellis Pharmaceuticals during the 4th quarter valued at about $186,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Apellis Pharmaceuticals during the 4th quarter valued at about $317,000. Bank of New York Mellon Corp purchased a new stake in shares of Apellis Pharmaceuticals during the 4th quarter valued at about $416,000. Finally, Candriam Luxembourg S.C.A. purchased a new stake in shares of Apellis Pharmaceuticals during the 4th quarter valued at about $2,539,000. 1.29% of the stock is owned by hedge funds and other institutional investors.

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About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company focuses on the discovery and development of therapeutic compounds for autoimmune and inflammatory diseases. The Company’s lead compounds are designed to inhibit complement component 3 (C3), the central protein in the complement cascade.

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