Apellis Pharmaceuticals (NASDAQ:APLS) Posts Quarterly Earnings Results

Apellis Pharmaceuticals (NASDAQ:APLS) issued its earnings results on Thursday. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05, Zacks reports. The business had revenue of $199.70 million during the quarter, compared to analysts’ expectations of $190.89 million. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The business’s revenue for the quarter was up 110.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.02) EPS.

Apellis Pharmaceuticals Stock Performance

Shares of NASDAQ APLS traded up $0.55 during midday trading on Friday, hitting $36.56. The stock had a trading volume of 2,453,430 shares, compared to its average volume of 1,562,037. The stock has a 50 day simple moving average of $39.20 and a 200-day simple moving average of $50.75. Apellis Pharmaceuticals has a 1 year low of $19.83 and a 1 year high of $73.80. The company has a debt-to-equity ratio of 1.73, a quick ratio of 3.02 and a current ratio of 5.08.

Wall Street Analyst Weigh In

APLS has been the subject of a number of research analyst reports. Robert W. Baird reiterated an “outperform” rating and issued a $100.00 price target on shares of Apellis Pharmaceuticals in a research note on Tuesday, July 23rd. Piper Sandler initiated coverage on Apellis Pharmaceuticals in a research note on Friday, May 31st. They issued a “neutral” rating and a $46.00 price target for the company. Wells Fargo & Company decreased their price target on Apellis Pharmaceuticals from $57.00 to $48.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. The Goldman Sachs Group cut their price objective on Apellis Pharmaceuticals from $77.00 to $66.00 and set a “buy” rating on the stock in a report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $85.00 price objective on shares of Apellis Pharmaceuticals in a report on Friday. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.50.

Insider Activity

In related news, insider Pascal Deschatelets sold 78,907 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $42.35, for a total transaction of $3,341,711.45. Following the transaction, the insider now owns 1,115,983 shares in the company, valued at $47,261,880.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Pascal Deschatelets sold 78,907 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $42.35, for a total transaction of $3,341,711.45. Following the transaction, the insider now owns 1,115,983 shares in the company, valued at $47,261,880.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director A. Sinclair Dunlop sold 37,000 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $39.24, for a total value of $1,451,880.00. Following the transaction, the director now owns 136,998 shares in the company, valued at approximately $5,375,801.52. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. It offers EMPAVELI for the treatment of paroxysmal nocturnal hemoglobinuria, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy secondary to age-related macular degeneration and geographic atrophy (GA).