Apellis Pharmaceuticals (NASDAQ:APLS) Announces Quarterly Earnings Results, Hits Estimates

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

Apellis Pharmaceuticals Stock Performance

Apellis Pharmaceuticals stock traded down $2.01 during mid-day trading on Wednesday, reaching $41.89. 852,716 shares of the company were exchanged, compared to its average volume of 1,563,782. The firm’s 50-day simple moving average is $54.74 and its two-hundred day simple moving average is $57.53. Apellis Pharmaceuticals has a twelve month low of $19.83 and a twelve month high of $94.75. The firm has a market cap of $5.08 billion, a PE ratio of -9.43 and a beta of 0.97. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.50 and a current ratio of 3.10.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on APLS shares. UBS Group reduced their target price on shares of Apellis Pharmaceuticals from $89.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday. Oppenheimer boosted their price target on shares of Apellis Pharmaceuticals from $75.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Mizuho reduced their price objective on shares of Apellis Pharmaceuticals from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. Raymond James lifted their price target on Apellis Pharmaceuticals from $67.00 to $106.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 11th. Finally, The Goldman Sachs Group boosted their target price on Apellis Pharmaceuticals from $65.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.13.

Insider Transactions at Apellis Pharmaceuticals

In related news, CFO Timothy Eugene Sullivan sold 1,431 shares of Apellis Pharmaceuticals stock in a transaction on Monday, February 12th. The shares were sold at an average price of $67.77, for a total value of $96,978.87. Following the transaction, the chief financial officer now directly owns 93,338 shares in the company, valued at approximately $6,325,516.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Timothy Eugene Sullivan sold 1,431 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 $96,978.87. Following the completion of the sale, the chief financial officer now directly owns 93,338 shares of the company’s stock, valued at approximately $6,325,516.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David O. Watson sold 781 shares of the company’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 $52,928.37. Following the transaction, the general counsel now directly owns 103,390 shares in the company, valued at approximately $7,006,740.30. The disclosure for this sale can be found here. Insiders sold 376,427 shares of company stock worth $23,169,639 over the last 90 days. 7.50% of the stock is currently owned by 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).