Apellis Pharmaceuticals (NASDAQ:APLS) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Apellis Pharmaceuticals (NASDAQ:APLS) posted its quarterly earnings data on Friday. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.08, Zacks reports. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The company had revenue of $212.50 million during the quarter, compared to analyst estimates of $197.92 million. During the same quarter last year, the company earned ($0.73) EPS. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis.

Apellis Pharmaceuticals Price Performance

NASDAQ APLS traded down $1.08 during trading on Friday, hitting $24.93. 1,288,485 shares of the stock traded hands, compared to its average volume of 1,748,307. The company has a market capitalization of $3.10 billion, a P/E ratio of -12.21 and a beta of 0.96. Apellis Pharmaceuticals has a 12-month low of $24.33 and a 12-month high of $66.00. The firm has a 50-day simple moving average of $30.04 and a 200-day simple moving average of $31.62. The company has a quick ratio of 3.73, a current ratio of 4.36 and a debt-to-equity ratio of 1.91.

Insider Activity

In related news, CEO Cedric Francois sold 2,824 shares of Apellis Pharmaceuticals stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $29.52, for a total value of $83,364.48. Following the completion of the transaction, the chief executive officer now owns 415,695 shares in the company, valued at approximately $12,271,316.40. This trade represents a 0.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Caroline Baumal sold 2,816 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $33.81, for a total value of $95,208.96. Following the completion of the transaction, the insider now owns 55,560 shares of the company’s stock, valued at approximately $1,878,483.60. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,365 shares of company stock worth $1,810,479. 6.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company cut their price objective on shares of Apellis Pharmaceuticals from $43.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. Bank of America reduced their price target on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Oppenheimer cut their target price on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $26.00 price target on shares of Apellis Pharmaceuticals in a research note on Wednesday, January 29th. Finally, Piper Sandler decreased their target price on shares of Apellis Pharmaceuticals from $40.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, November 6th. Eight investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apellis Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $46.71.

About Apellis Pharmaceuticals

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).