Investors are eagerly awaiting the upcoming earnings report from Apellis Pharmaceuticals, Inc. (APLS) to see if the company will surpass expectations. Recent favorable earnings estimate revisions indicate a potential earnings beat, making APLS an attractive stock to watch.
The Most Accurate Estimate for the current quarter is a loss of 80 cents per share for APLS, compared to the broader Zacks Consensus Estimate of a loss of 86 cents per share. This suggests that analysts have recently raised their estimates for APLS, resulting in a Zacks Earnings ESP of +6.47% heading into earnings season.
Why is this Important?
A positive Zacks Earnings ESP has historically been a strong indicator of positive surprises and market outperformance. According to a 10-year backtest, stocks with a positive Earnings ESP and a Zacks Rank #3 (Hold) or better have shown a positive surprise rate of nearly 70%, with an average annual return of over 28% (see more Top Earnings ESP stocks here).
With a Zacks Rank #2 (Buy) and a positive ESP, APLS appears to be a promising stock to consider ahead of the earnings announcement. For a full list of today’s Zacks #1 Rank (Strong Buy) stocks, click here.
The recent earnings estimate revisions for APLS indicate that positive developments may be on the horizon, potentially leading to an earnings beat in the upcoming report.
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Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of Nasdaq, Inc.