Apellis Pharmaceuticals Stock (NASDAQ: APLS)

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Apellis Pharmaceuticals

Apellis Pharmaceuticals Inc is a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutic compounds to treat diseases with high unmet needs through the inhibition of the complement system, which is an integral component of the immune system, at the level of C3, the central protein in the complement cascade.

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Apellis Pharmaceuticals shares are moving lower after the Committee for Medicinal Products for Human Use  of the European Medicines Agency confirmed its June 2024 negative opinion following re-examination.

What&#39;s Going With Apellis Pharmaceuticals Stock Friday?

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BIOVF

SWOBY

Swedish Orphan Biovitrum and Apellis Pharmaceuticals released topline results from the Phase 3 VALIANT study of pegcetacoplan for C3 glomerulopathy and IC-MPGN. The study met primary and secondary endpoints, showing proteinuria and kidney inflammation reductions.

Apellis Pharmaceuticals&#39; Pegcetacoplan Meets Primary Goal In Late-Stage Study In Patients With Rare Kidney Diseases

Apellis Pharmaceuticals, Inc. - Common Stock

Apellis Pharmaceuticals Inc

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
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<li>TD Cowen increased the price target for CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) from $115 to $130. TD Cowen analyst Andrew Charles maintained a Buy rating. CAVA shares gained 2.9% to close at $128.79 on Friday. <a href="https://www.benzinga.com/quote/cava/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keybanc boosted CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) price target from $300 to $345. Keybanc analyst Jackson Ader maintained an Overweight rating. CrowdStrike shares gained 8.1% to close at $299.85 on Friday. <a href="https://www.benzinga.com/quote/crwd/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank raised The Bank of New York Mellon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) price target from $66 to $80. Deutsche Bank analyst Brian Bedell upgraded the stock from Hold to Buy. Bank of New York Mellon shares gained 0.1% to close at $71.82 on Friday. <a href="https://www.benzinga.com/quote/bk/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Benchmark raised Sinclair, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBGI#NASDAQ">SBGI</a>) price target from $29 to $30. Benchmark analyst Daniel Kurnos maintained a Buy rating. Sinclair shares gained 4.3% to close at $14.67 on Friday. <a href="https://www.benzinga.com/quote/sbgi/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler boosted the price target for Wix.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) from $184 to $200. Piper Sandler analyst Clarke Jeffries upgraded the stock from Neutral to Overweight. Wix.com fell 0.3% to close at $160.64 on Friday. <a href="https://www.benzinga.com/quote/wix/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird slashed Apellis Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) price target from $96 to $92. Baird analyst Colleen Kusy maintained an Outperform rating. Apellis Pharmaceuticals shares fell 11.5% to close at $32.51 on Friday. S<a href="https://www.benzinga.com/quote/apls/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>Deutsche Bank boosted the price target for PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) from $74 to $94. Deutsche Bank analyst Bryan Keane maintained a Buy rating. PayPal shares fell 1% to close at $76.76 on Friday. S<a href="https://www.benzinga.com/quote/pypl/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>Baird increased Fiserv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) price target from $186 to $200. Baird analyst David Koning maintained an Outperform rating. Fiserv shares fell 0.7% to close at $177.61 on Friday.<a href="https://www.benzinga.com/quote/FI/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>Loop Capital slashed FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) price target from $317 to $288. Loop Capital analyst Rick Paterson maintained a Hold rating. FedEx shares dipped 15.2% to close at $254.64 on Friday. <a href="https://www.benzinga.com/quote/FDX/analyst-ratings">See how other analysts view this stock</a>.</li>
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Baird analyst Colleen Kusy maintains Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) with a Outperform and lowers the price target from $96 to $92.

Baird Maintains Outperform on Apellis Pharmaceuticals, Lowers Price Target to $92

Mizuho analyst Graig Suvannavejh maintains Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) with a Neutral and lowers the price target from $42 to $39.

Mizuho Maintains Neutral on Apellis Pharmaceuticals, Lowers Price Target to $39

Needham analyst Joseph Stringer reiterates Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) with a Buy and maintains $85 price target.

Reiteration

Needham Reiterates Buy on Apellis Pharmaceuticals, Maintains $85 Price Target

Apellis Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) shares are moving lower Friday after the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency, following a re-examination, confirmed its June 2024 negative opinion on the marketing authorization application of intravitreal pegcetacoplan for the treatment of geographic atrophy secondary to age-related macular degeneration.
The Details: Over time, geographic atrophy destroys retinal cells which leads to vision loss.
&#8220;We are deeply disappointed by this outcome, which leaves millions of Europeans with GA without a treatment for this irreversible form of blindness,&#8221; said Cedric Francois, CEO and Apellis co-founder.
&#8220;This CHMP opinion was made despite broad support for pegcetacoplan from the European retina community and multiple dissenting votes by CHMP members who supported a path to approval.&#8221;
How To Buy Apellis Pharmaceuticals Shares
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>)'s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
See Also: <a href="https://www.benzinga.com/general/biotech/24/09/40957635/sanofis-tolebrutinib-delays-disability-progression-in-patients-with-multiple-sclerosis-data-shows">Sanofi&#8217;s Tolebrutinib Delays Disability Progression In Patients With Multiple Sclerosis, Data Shows</a>
APLS Price Action: At the time of writing, Apellis Pharmaceuticals stock is moving 10.50% lower at $32.95, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: Unsplash/ Volodymyr Hryshchenko

What's Going With Apellis Pharmaceuticals Stock Friday?

WIIM

Apellis Pharmaceuticals shares are trading lower after the Committee for Medicinal Products for Human Use of the European Medicines Agency has confirmed its June 2024 negative opinion on the company's intravitreal pepcetacoplan for geographic atrophy secondary to age-related macular degeneration.

The Committee For Medicinal Products For Human Use Of The European Medicines Agency Has Confirmed Its June 2024 Negative Opinion On Apellis Pharmaceuticals' Intravitreal Pegcetacoplan For Geographic Atrophy Secondary To Age-related Macular Degeneration

Across the recent three months, 15 analysts have shared their insights on Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $78.47, a high estimate of $100.00, and a low estimate of $41.00. This current average has decreased by 3.52% from the previous average price target of $81.33. 
<img src="https://www.benzinga.com/files/images/story/2024/1726261257_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
A clear picture of Apellis Pharmaceuticals's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Anupam Rama</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$57.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Anupam Rama</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$64.00</td>
<td>$72.00</td>
</tr>
<tr>
<td>Eliana Merle</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$83.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Laura Chico</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Neutral</td>
<td>$41.00</td>
<td>$38.00</td>
</tr>
<tr>
<td>Salveen Richter</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$74.00</td>
<td>$66.00</td>
</tr>
<tr>
<td>Colleen Kusy</td>
<td>Baird</td>
<td>Raises</td>
<td>Outperform</td>
<td>$96.00</td>
<td>$86.00</td>
</tr>
<tr>
<td>Joseph Stringer</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$85.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Douglas Tsao</td>
<td>HC Wainwright &amp; Co.</td>
<td>Lowers</td>
<td>Buy</td>
<td>$83.00</td>
<td>$92.00</td>
</tr>
<tr>
<td>Salveen Richter</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$66.00</td>
<td>$77.00</td>
</tr>
<tr>
<td>Joseph Stringer</td>
<td>Needham</td>
<td>Maintains</td>
<td>Buy</td>
<td>$85.00</td>
<td>$85.00</td>
</tr>
<tr>
<td>Akash Tewari</td>
<td>Jefferies</td>
<td>Maintains</td>
<td>Buy</td>
<td>$80.00</td>
<td>$80.00</td>
</tr>
<tr>
<td>Colleen Kusy</td>
<td>Baird</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$86.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Colleen Kusy</td>
<td>Baird</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$100.00</td>
<td>$100.00</td>
</tr>
<tr>
<td>Salveen Richter</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$77.00</td>
<td>$90.00</td>
</tr>
<tr>
<td>Colleen Kusy</td>
<td>Baird</td>
<td>Maintains</td>
<td>Outperform</td>
<td>$100.00</td>
<td>$100.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Apellis Pharmaceuticals. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Apellis Pharmaceuticals compared to the broader market.</li>
<li>Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.</li>
</ul>
For valuable insights into Apellis Pharmaceuticals's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/APLS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Apellis Pharmaceuticals analyst ratings.</a>
<h2>Unveiling the Story Behind Apellis Pharmaceuticals</h2>
Apellis Pharmaceuticals Inc is a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutic compounds to treat diseases with high unmet needs through the inhibition of the complement system, which is an integral component of the immune system, at the level of C3, the central protein in the complement cascade.
<h3>Financial Milestones: Apellis Pharmaceuticals's Journey</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Over the 3 months period, Apellis Pharmaceuticals showcased positive performance, achieving a revenue growth rate of 110.26% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Health Care sector.
Net Margin: Apellis Pharmaceuticals's net margin is impressive, surpassing industry averages. With a net margin of -18.86%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Apellis Pharmaceuticals's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -14.18%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Apellis Pharmaceuticals's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -4.34%, the company may face hurdles in achieving optimal financial performance.
Debt Management: Apellis Pharmaceuticals's debt-to-equity ratio surpasses industry norms, standing at 1.8. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>The Significance of Analyst Ratings Explained</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Scoreboard: 15 Ratings For Apellis Pharmaceuticals

JP Morgan analyst Anupam Rama maintains Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) with a Overweight and lowers the price target from $64 to $57.

JP Morgan Maintains Overweight on Apellis Pharmaceuticals, Lowers Price Target to $57

JP Morgan analyst Anupam Rama maintains Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) with a Overweight and lowers the price target from $72 to $64.

JP Morgan Maintains Overweight on Apellis Pharmaceuticals, Lowers Price Target to $64

UBS analyst Eliana Merle maintains Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) with a Buy and lowers the price target from $85 to $83.

UBS Maintains Buy on Apellis Pharmaceuticals, Lowers Price Target to $83

Wedbush analyst Laura Chico maintains Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) with a Neutral and raises the price target from $38 to $41.

Wedbush Maintains Neutral on Apellis Pharmaceuticals, Raises Price Target to $41

Goldman Sachs analyst Salveen Richter maintains Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) with a Buy and raises the price target from $66 to $74.

Goldman Sachs Maintains Buy on Apellis Pharmaceuticals, Raises Price Target to $74

Baird analyst Colleen Kusy maintains Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) with a Outperform and raises the price target from $86 to $96.

Baird Maintains Outperform on Apellis Pharmaceuticals, Raises Price Target to $96

Swedish Orphan Biovitrum AB (Sobi) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SWOBY#OTC">SWOBY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BIOVF#OTC">BIOVF</a>)&nbsp;and Apellis Pharmaceuticals, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) on Thursday released topline data results from Phase 3 VALIANT study of systemic pegcetacoplan for C3 glomerulopathy (C3G) or primary immune complex membranoproliferative <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40248636/sobi-and-apellis-announce-positive-topline-results-from-phase-3-valiant-study-of-pegcetacoplan-in-" rel="noreferrer noopener">glomerulonephritis (IC-MPGN)</a>.
Excessive C3c deposits are a marker of disease activity, which can lead to kidney inflammation, damage, and failure. Additionally, two-thirds of patients who previously received a kidney transplant will experience disease recurrence. The diseases are estimated to affect 5,000 people in&nbsp;the U.S.&nbsp;and up to 8,000 in&nbsp;Europe.
The study met the primary endpoint, demonstrating a statistically significant and clinically meaningful 68% reduction in proteinuria in patients treated with pegcetacoplan compared to placebo, both in addition to background therapy, at Week 26.
Results were consistent across all subgroups, including C3G and IC-MPGN, adolescent and adult patients, and native and post-transplant kidneys.
Pegcetacoplan also demonstrated statistical significance on the key secondary endpoints of composite renal endpoint, which combines proteinuria reduction and estimated glomerular filtration rate (eGFR) stabilization, and proteinuria reduction of at least 50% compared to baseline, and nominal significance on the histological endpoint of reduction in C3c staining on kidney biopsy and stabilization of kidney function as measured by eGFR compared to placebo.
In the VALIANT study, pegcetacoplan showed favorable safety and tolerability, consistent with its established profile.
All patients who have completed the VALIANT study have enrolled in the VALE long-term extension study.
Sobi plans to submit a marketing application to the European Medicines Agency in 2025. Apellis also plans to submit a supplemental new drug application to the FDA in early 2025.
Pegcetacoplan is already approved in the U.S. for geographic atrophy secondary to age-related macular degeneration as Syfovre and paroxysmal nocturnal hemoglobinuria as Empaveli/Aspaveli.
Syfovre generated sales of $154.6 million, and Empaveli <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40095520/apellis-pharmaceuticals-reports-second-quarter-2024-financial-results" rel="noreferrer noopener">generated $24.5 million</a>.
In June, the Committee for Medicinal Products for Human Use of the European Medicines Agency adopted a negative opinion on the marketing application of intravitreal pegcetacoplan for geographic atrophy.
Apellis plans to seek re-examination and expects a final opinion in the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/g39544811/apellis-plans-to-seek-re-examination-following-negative-chmp-opinion-for-pegcetacoplan-for-geograp" rel="noreferrer noopener">fourth quarter of 2024</a>.
Price Action: APLS stock is up 11.2% at $37.35 at last check Thursday.
Photo via Shutterstock
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Apellis Pharmaceuticals' Pegcetacoplan Meets Primary Goal In Late-Stage Study In Patients With Rare Kidney Diseases

Apellis Pharmaceuticals shares are trading higher after the company announced topline results from the Phase 3 VALIANT study investigating systemic pegcetacoplan in patients with C3 glomerulopathy or primary immune complex membranoproliferative glomerulonephritis.

Trading Halt: Halt status updated at 7:25:00 AM ET: Quotation Resumption: News and Resumption Times

Apellis To Host Conference Call At 8:00 AM ET

Apellis And Sobi Announce Phase 3 VALIANT Study Results For Pegcetacoplan In Rare Kidney Diseases; Achieves 68% Reduction In Proteinuria, Consistent Across All Subgroups; Data Submission Planned For US And EU

Trading Halt: Halted at 6:55:00 a.m. ET - Trading Halt: Halt News Pending

Needham analyst Joseph Stringer has maintained their bullish stance on APLS stock, giving a Buy rating today. Joseph Stringer has given his Buy rat...

Buy Rating Affirmed for Apellis Pharmaceuticals on Strong Pegcetacoplan Trial Results and Positive Sales Forecast

Apellis: Rare Kidney Disease Data Leads To Possible First To Market

Analysts have been eager to weigh in on the Healthcare sector with new ratings on Edgewise Therapeutics (EWTX – Research Report), Humacyte (HUMA – ...

Analysts Conflicted on These Healthcare Names: Edgewise Therapeutics (EWTX), Humacyte (HUMA) and Apellis Pharmaceuticals (APLS)

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Investment bank Wedbush may be best-known for its sell-side coverage of high-profile <a href="https://investorplace.com/industries/technology/">tech stocks</a> like Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>), but taking a look at the new Wedbush price targets, you&rsquo;ll find that the EV maker is not on this list.



Neither are many of the other well-known names in tech. Instead, with some exceptions, most of the latest stocks receiving either a target price increase or a target price decrease from Wedbush this month are in other sectors. For instance, sectors like health care, real estate, consumer discretionary, and financial services are also included.



So, should one consider their recommendations? Much as was the case back in May when I broke down several stocks that had just received&nbsp;price target decreases&nbsp;from Wedbush, the answer to the question &ldquo;Should you take heed of their advice?&rdquo; is largely the same.



Put simply, it depends. By examining each of the following seven new Wedbush price targets, we can see whether to follow their lead or take an opposite stance.



<h2>Apellis Pharmaceuticals (APLS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/droplet-test-tube-biotech-1600-3-300x169.jpg" alt="Photo of test tubes and droplet with purple and reddish-orange sunset visual effect, representing biotech"><div>Source: shutterstock.com/Romix Image</div></div>Apellis Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/apls-stock-quote/">APLS</a>) is a commercial-stage biotech firm. The company&rsquo;s two key products are Empaveli and Syfovre. Both of these therapies are for the treatment of rare autoimmune and inflammatory diseases.



On Aug. 9, Wedbush reiterated its &ldquo;neutral&rdquo; rating on APLS stock but raised its price target from $38 to $41 per share. This increased price target follows some promising news about a treatment in Apellis&rsquo; pipeline. The previous day, Apellis and its strategic partner Swedish Orphan Biovitrum (OTCMKTS:SWOBY) revealed <a href="https://seekingalpha.com/news/4137092-apellis-stock-jumps-as-rare-kidney-disease-therapy-succeeds-in-trial">promising Phase 3 clinical trial data</a>. This data could pave the way for the company to obtain regulatory approval to sell Empaveli as a treatment for several rare kidney diseases. As analysts at Evercore ISI recently put it, this could mean a <a href="https://www.fiercepharma.com/pharma/apellis-and-sobis-pegcetacoplan-wins-big-rare-kidney-disease-study-offering-renewed-hope-new">&ldquo;blockbuster opportunity&rdquo;</a> for Apellis Pharmaceuticals.



Investing in <a href="https://investorplace.com/industries/healthcare/biotech/">biotech stocks</a> is risky and complex. Hence, you&rsquo;ll want to conduct deep due diligence before making a trading decision regarding APLS shares. However, Wedbush&rsquo;s cautiously optimistic view, coupled with recent developments, highlights that this may be a worthwhile opportunity for those experienced and well-versed in the ins-and-outs of biotech stock investing.



<h2>Beazer Homes USA (BZH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/homebuilder_stocks_1600-300x169.png" alt="A photo of a man in a mask and neon green vest in front of a home that's under construction."><div>Source: Tong_stocker/ShutterStock.com</div></div>Beazer Homes USA (NYSE:<a href="https://investorplace.com/stock-quotes/bzh-stock-quote/">BZH</a>) is another non-tech name on the list of new Wedbush price targets. On Aug. 2, the sell-side firm reiterated its &ldquo;neutral&rdquo; rating on the homebuilder&rsquo;s shares, but a massive target price increase came alongside this reiteration.



Previously giving BZH stock a $33 per share price target, Wedbush analysts now believe Beazer Homes could climb to as much as <a href="https://www.marketbeat.com/instant-alerts/nyse-bzh-boost-price-target-2024-08-02/">$41 per share</a>. Given the timing of this target price increase, chalk it up to promising aspects of Beazer&rsquo;s latest quarterly earnings release. The results themselves were largely mixed. BZH beat on earnings, yet revenue came in slightly short of expectations. However, in the post-earnings investor presentation, management provided promising updates on community growth and balance sheet improvement.



It&rsquo;s worth noting that Beazer Homes has remained profitable thus far during the recent slowdown in the housing market. Even so, shares continue to trade at a heavily discounted valuation of just 6.6x forward earnings. With this, and assuming that better conditions will arrive once interest rates move lower, Wedbush may be on the money with the aforementioned price target. This price target is nearly 50% above BZH&rsquo;s current trading price.



<h2>Maplebear (CART)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/instacart-1600-300x169.png" alt="Instacart logo on a phone screen over a yellow background with a timer, boxes, and a shopping cart. Instacart IPO."><div>Source: Burdun Iliya / Shutterstock</div></div>Maplebear (NASDAQ:<a href="https://investorplace.com/stock-quotes/cart-stock-quote/">CART</a>), which operates Instacart, is yet another situation in which the price target has changed but not the sell-side rating. On Aug. 7, Wedbush reiterated its &ldquo;neutral rating&rdquo; on the grocery delivery app operator&rsquo;s shares, with a price target increase <a href="https://www.marketbeat.com/instant-alerts/nasdaq-cart-boost-price-target-2024-08-07/">from $35 to $38 per share</a>.



Wedbush&rsquo;s price target adjustment for CART stock follows the Instacart parent&rsquo;s latest quarterly earnings release. The company beat on both revenue and earnings&nbsp;for the June quarter and provided a solid outlook for the current quarter. Wedbush&rsquo;s price target for Maplebear is around 19% above current trading prices. This makes sense, considering both valuation and growth forecasts. At 28.9x forward earnings, CART isn&rsquo;t exactly cheap.



Then again, comparable names trade at higher valuations. Doordash (NASDAQ:<a href="https://investorplace.com/stock-quotes/dash-stock-quote/">DASH</a>), for instance, trades for 42.2x forward earnings. Uber Technologies (NYSE:<a href="https://investorplace.com/stock-quotes/uber-stock-quote/">UBER</a>) trades at a forward multiple of 65.8x. Also, considering that sell-side consensus calls for Maplebear&rsquo;s earnings growth to come in at <a href="https://seekingalpha.com/symbol/CART/earnings">around 20%</a> over the next year, this multiple may be sustainable, with shares rising in line with bottom-line growth.



<h2>Cyberark Software (CYBR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/cybr-stock-1-300x169.jpg" alt="Cyberark (CYBR) logo on a corporate building"><div>Source: photobyphm / Shutterstock.com</div></div>Already bullish on Cyberark Software (NASDAQ:<a href="https://investorplace.com/stock-quotes/cybr-stock-quote/">CYBR</a>), Wedbush upped the ante on Aug. 9, with a target price increase from $285 to $300 per share. As you may have guessed, Wedbush&rsquo;s upward adjustment to its price target follows Cyberark&rsquo;s latest quarterly earnings release.



This cyber security software company reported&nbsp;<a href="https://seekingalpha.com/news/4137237-cyberark-jumps-as-q2-tops-expectations-ups-guidance" target="_blank">&ldquo;beat and raise&rdquo;</a>&nbsp;results in the release. CYBR stock rallied as a result, surging 8% higher on earnings day. Wedbush isn&rsquo;t the only sell-side firm singing the praises of Cyberark Software. Calling CYBR a <a href="https://www.cnbc.com/2024/08/09/bank-of-america-says-buy-this-diamond-in-the-rough-cybersecurity-stock.html">&ldquo;diamond in the rough&rdquo;</a> among <a href="https://investorplace.com/industries/technology/cybersecurity/">cybersecurity stocks</a>, analysts at Bank of America argued that shares have more than 25% upside, far greater than Wedbush&rsquo;s own take on the stock.



Yet, while analysts and investors are very positive on Cyberark right now, keep in mind the valuation risk with this stock. CYBR trades for 118.9x forward earnings. This valuation may be sustainable as the growth story remains in motion for Cyberark. However, perhaps in &ldquo;priced for perfection&rdquo; territory, any sort of hiccup or misstep in subsequent results could lead to a tremendous drop in price for CYBR, which is up by more than 90% over the past year.



<h2>Expedia Group (EXPE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/expe_expedia_1600_1739158757-300x169.png" alt="Expedia app logo on a smartphone screen. EXPE stock"><div>Source: NYC Russ / Shutterstock.com</div></div>An exception to the trend mentioned earlier, Expedia Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/expe-stock-quote/">EXPE</a>) is one of a few tech stocks that are among the names with new Wedbush price targets this month. On Aug. 9, the sell-side firm maintained a neutral rating on the online travel company&rsquo;s shares, but raised its price target from $125 to $130 per share.



This is yet another post-earnings price target increase. On Aug. 8, Expedia reported a revenue and earnings beat, although <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40288024/expedias-q2-triumph-analysts-highlight-vrbo-as-bright-spot-praise-growth-in-busines">updates to guidance fell short of expectations</a>. Still, investors reacted positively to earnings. In the days following the earnings release, EXPE stock soared from the low-$110s up to above $130 per share, in line with Wedbush&rsquo;s new price target.



But while this suggests that there&rsquo;s little in the way of near-term upside, you may not want to jump to that conclusion. Despite the market&rsquo;s resurging optimism, shares keep trading at a discounted valuation of only 11.1 times forward earnings. If subsequent results are better than feared, and the travel economy continues to perform strongly despite economic slowdown concerns, shares may have a strong chance of soaring again, thanks to positive surprises.



<h2>Under Armour (UAA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/01/uaa1600b-300x169.jpg" alt="the exterior of an Under Armour store"><div>Source: Sundry Photography / Shutterstock.com</div></div>On Aug. 9, Wedbush issued a slight price target increase for shares in athletic apparel company Under Armour (NYSE:<a href="https://investorplace.com/stock-quotes/uaa-stock-quote/">UAA</a>). Reiterating its &ldquo;outperform&rdquo; rating, the firm increased its price target for UAA from $8 to $8.50 per share. There is logic to this slight price target tweak.



Although the results show that challenges remain for the company, Under Armour <a href="https://www.bloomberg.com/news/videos/2024-08-08/under-armour-s-shares-surge-as-restructuring-progresses">beat expectations</a> with its previous quarter&rsquo;s numbers. The results, guidance and other updates have also increased confidence in Under Armour&rsquo;s turnaround efforts, led by founder and returning CEO Kevin Plank. Previously, Wedbush&rsquo;s price target was well above the UAA stock price. However, with shares soaring higher after earnings, even with the adjustment UAA, is now within range of the target.



That said, there may be far greater upside with Under Armour stock than you think. After all, it was only a few years ago that UAA traded for prices north of $25 per share. The stock commanded even higher prices during the 2010s. Even if the company never re-hits its former glory, it may not take much improvement to send shares materially above current price levels.



<h2>UWM Holdings (UWMC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/reit1600d-300x169.jpg" alt="a wooden house shape holds 3 bags of cash representing reits to buy"><div>Source: Shutterstock</div></div>Wedbush analysts have become more bullish on housing and&nbsp;<a href="https://investorplace.com/industries/real-estate/" target="_blank">real estate stocks, anticipating lower interest rates ahead</a>. Many real estate investment trusts are among the new Wedbush price targets, as are shares in mortgage wholesaler UWM Holdings (NYSE:<a href="https://investorplace.com/stock-quotes/uwmc-stock-quote/">UWMC</a>).



On Aug. 7, Wedbush increased its UWMC stock price target from $7 to $8.50 per share, while maintaining a &ldquo;neutral&rdquo; rating on shares. With shares currently trading around this price target, this suggests little near-term upside. In this situation, I agree with this assessment. A stronger housing market may perhaps be just around the corner. As I have pointed out previously, factors such as UWM&rsquo;s sponsorship of the WNBA could help the company report better-than-expected results.



Nevertheless, one can argue that improved results are already baked into UWMC&rsquo;s valuation. Shares today trade for around 33x estimated 2024 earnings, and 21.5x estimated 2025 earnings. With peers like Mr. Cooper Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/coop-stock-quote/">COOP</a>) trading at forward multiples in the single digits, even if you&rsquo;re bullish on a housing recovery, there may be better choices than UWMC.



On the date of publication, Thomas Niel did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Thomas Niel, contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/08/wedbush-just-raised-price-target-on-these-seven-stocks/">Wedbush Just Raised its Price Target on These 7 Stocks: August 12, 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Wedbush Just Raised its Price Target on These 7 Stocks: August 12, 2024

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