Apellis Pharmaceuticals (NASDAQ:APLS) Announces Earnings Results

Apellis Pharmaceuticals (NASDAQ:APLS) released its earnings results on Tuesday. The company reported ($0.54) earnings per share (EPS) for the quarter, hitting 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 last year, the business posted ($1.56) earnings per share. The firm’s revenue was up 284.3% on a year-over-year basis.

Apellis Pharmaceuticals Stock Down 3.6 %

NASDAQ:APLS opened at $42.30 on Thursday. The stock has a fifty day simple moving average of $54.30 and a 200-day simple moving average of $57.42. 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 company has a market cap of $5.13 billion, a price-to-earnings ratio of -9.44 and a beta of 0.97. Apellis Pharmaceuticals has a twelve month low of $19.83 and a twelve month high of $94.75.

Analysts Set New Price Targets

APLS has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $85.00 target price on shares of Apellis Pharmaceuticals in a report on Wednesday. Jefferies Financial Group upgraded Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $80.00 in a research report on Monday, February 5th. Mizuho decreased their target price on Apellis Pharmaceuticals from $60.00 to $52.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. HC Wainwright restated a “buy” rating and set a $92.00 price target on shares of Apellis Pharmaceuticals in a report on Wednesday. Finally, Citigroup decreased their price objective on Apellis Pharmaceuticals from $67.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apellis Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $76.67.

Insider Buying and Selling

In other news, insider Pascal Deschatelets sold 69,107 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 1,115,983 shares of the company’s stock, valued at $60,452,799.11. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Pascal Deschatelets sold 69,107 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $54.17, for a total transaction of $3,743,526.19. Following the transaction, the insider now owns 1,115,983 shares in the company, valued at $60,452,799.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Jeffrey Delong sold 9,913 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $56.90, for a total transaction of $564,049.70. Following the completion of the sale, the insider now directly owns 54,693 shares of the company’s stock, valued at $3,112,031.70. The disclosure for this sale can be found here. Insiders have sold 376,427 shares of company stock valued at $23,169,639 in the last 90 days. Company insiders own 7.50% of the company’s stock.

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).