Apellis Pharmaceuticals (NASDAQ:APLS) Issues Quarterly Earnings Results

Apellis Pharmaceuticals (NASDAQ:APLS) released its earnings results on Tuesday. The company reported ($0.54) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.54), Briefing.com reports. Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 178.60%. The company had revenue of $172.33 million for the quarter, compared to the consensus estimate of $163.37 million. During the same period in the prior year, the company posted ($1.56) EPS. The company’s revenue was up 284.3% compared to the same quarter last year.

Apellis Pharmaceuticals Stock Down 3.9 %

Shares of NASDAQ:APLS traded down $1.73 during midday trading on Wednesday, reaching $42.17. 1,081,770 shares of the company were exchanged, compared to its average volume of 1,566,551. The firm has a market cap of $5.11 billion, a PE ratio of -9.43 and a beta of 0.97. Apellis Pharmaceuticals has a fifty-two week low of $19.83 and a fifty-two week high of $94.75. The stock has a fifty day simple moving average of $54.74 and a two-hundred day simple moving average of $57.53. The company has a quick ratio of 2.50, a current ratio of 3.10 and a debt-to-equity ratio of 0.48.

Insider Buying and Selling

In other Apellis Pharmaceuticals news, insider Pascal Deschatelets sold 69,107 shares of Apellis Pharmaceuticals stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $54.17, for a total value of $3,743,526.19. Following the sale, the insider now owns 1,115,983 shares of the company’s stock, valued at approximately $60,452,799.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Adam J. Townsend sold 1,148 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $67.77, for a total transaction of $77,799.96. Following the completion of the transaction, the insider now owns 92,453 shares in the company, valued at $6,265,539.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pascal Deschatelets sold 69,107 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the completion of the transaction, the insider now directly owns 1,115,983 shares of the company’s stock, valued at approximately $60,452,799.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,427 shares of company stock valued at $23,169,639. Company insiders own 7.50% of the company’s stock.

Analysts Set New Price Targets

APLS has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Apellis Pharmaceuticals from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Jefferies Financial Group upgraded Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $80.00 in a research report on Monday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price objective on shares of Apellis Pharmaceuticals in a research note on Wednesday. Oppenheimer increased their target price on Apellis Pharmaceuticals from $75.00 to $79.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. Finally, UBS Group reduced their target price on Apellis Pharmaceuticals from $89.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday. Three equities 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 company. According to data from MarketBeat, Apellis Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $77.13.

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).