Apellis Pharmaceuticals (NASDAQ:APLS) Issues Quarterly Earnings Results, Meets Estimates

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

Apellis Pharmaceuticals Price Performance

Shares of NASDAQ APLS opened at $43.90 on Wednesday. The company has a current ratio of 3.10, a quick ratio of 2.50 and a debt-to-equity ratio of 0.48. The firm has a market cap of $5.32 billion, a PE ratio of -9.80 and a beta of 0.97. Apellis Pharmaceuticals has a 1-year low of $19.83 and a 1-year high of $94.75. The company has a fifty day moving average price of $54.74 and a 200 day moving average price of $57.53.

Wall Street Analyst Weigh In

APLS has been the subject of several research reports. UBS Group raised their target price on Apellis Pharmaceuticals from $87.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Jefferies Financial Group upgraded Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $80.00 in a research note on Monday, February 5th. Raymond James upped their price objective on shares of Apellis Pharmaceuticals from $67.00 to $106.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 11th. HC Wainwright reissued a “buy” rating and issued a $92.00 price objective on shares of Apellis Pharmaceuticals in a research note on Friday, April 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 price target on shares of Apellis Pharmaceuticals in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apellis Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $77.40.

Insider Transactions at Apellis Pharmaceuticals

In other Apellis Pharmaceuticals news, insider Adam J. Townsend sold 1,148 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $67.77, for a total value of $77,799.96. Following the completion of the transaction, the insider now directly owns 92,453 shares in the company, valued at $6,265,539.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Apellis Pharmaceuticals news, General Counsel David O. Watson sold 781 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $67.77, for a total transaction of $52,928.37. Following the completion of the transaction, the general counsel now owns 103,390 shares of the company’s stock, valued at $7,006,740.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam J. Townsend sold 1,148 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $67.77, for a total value of $77,799.96. Following the sale, the insider now owns 92,453 shares in the company, valued at approximately $6,265,539.81. The disclosure for this sale can be found here. Insiders sold 376,427 shares of company stock valued at $23,169,639 in the last ninety days. 7.50% of the stock is currently owned by corporate insiders.

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).