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

Apellis Pharmaceuticals (NASDAQ:APLS - Get Free Report) announced its earnings results on Friday. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.08, Zacks reports. The company had revenue of $212.50 million for the quarter, compared to analysts' expectations of $197.92 million. Apellis Pharmaceuticals had a negative return on equity of 103.11% and a negative net margin of 34.97%. The business's revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.73) earnings per share.

Apellis Pharmaceuticals Stock Up 4.1 %

APLS stock traded up $0.99 during trading on Tuesday, reaching $25.05. 1,629,946 shares of the stock were exchanged, compared to its average volume of 1,925,361. The company has a current ratio of 4.36, a quick ratio of 3.73 and a debt-to-equity ratio of 1.91. The firm has a market cap of $3.12 billion, a P/E ratio of -12.34 and a beta of 0.96. The firm's 50 day moving average is $29.70 and its 200 day moving average is $31.39. Apellis Pharmaceuticals has a twelve month low of $23.81 and a twelve month high of $64.58.

Insider Activity at Apellis Pharmaceuticals

In other news, CEO Cedric Francois sold 2,824 shares of the firm's stock in a transaction on 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 directly owns 415,695 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Caroline Baumal sold 2,816 shares of the firm's stock in a transaction 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 directly owns 55,560 shares of the company's stock, valued at $1,878,483.60. The trade was a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,365 shares of company stock valued at $1,810,479. 6.80% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

APLS has been the topic of several recent research reports. Robert W. Baird decreased their price target on Apellis Pharmaceuticals from $92.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, November 7th. The Goldman Sachs Group dropped their price target on Apellis Pharmaceuticals from $36.00 to $32.00 and set a "neutral" rating on the stock in a research report on Monday. Piper Sandler dropped their price target on Apellis Pharmaceuticals from $40.00 to $32.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company dropped their price target on 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. Finally, Needham & Company LLC dropped their target price on Apellis Pharmaceuticals from $85.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, November 6th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Apellis Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $45.53.

Apellis Pharmaceuticals Company Profile

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).