Apellis Pharmaceuticals (NASDAQ:APLS) Posts Quarterly Earnings Results, Hits Expectations

Apellis Pharmaceuticals (NASDAQ:APLS) issued its earnings results on Tuesday. The company reported ($0.54) earnings per share (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 company had revenue of $172.33 million for the quarter, compared to the consensus estimate of $163.37 million. During the same quarter last year, the company earned ($1.56) EPS. The firm’s quarterly revenue was up 284.3% on a year-over-year basis.

Apellis Pharmaceuticals Stock Down 10.1 %

Shares of APLS opened at $43.90 on Wednesday. The firm has a market capitalization of $5.32 billion, a P/E ratio of -9.80 and a beta of 0.97. Apellis Pharmaceuticals has a 12-month low of $19.83 and a 12-month high of $94.75. The firm has a fifty day moving average price of $54.74 and a 200-day moving average price of $57.53. The company has a current ratio of 3.10, a quick ratio of 2.50 and a debt-to-equity ratio of 0.48.

Analyst Ratings Changes

Several research firms have recently commented on APLS. Mizuho lowered their target price 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. UBS Group increased their price objective on shares of Apellis Pharmaceuticals from $87.00 to $89.00 and gave the company a “buy” rating in a report on Monday, March 4th. JPMorgan Chase & Co. lifted their target price on Apellis Pharmaceuticals from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Jefferies Financial Group raised Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price target for the company from $68.00 to $80.00 in a research note on Monday, February 5th. Finally, Wedbush reduced their price objective on Apellis Pharmaceuticals from $67.00 to $57.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Three equities research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.40.

Insider Transactions at Apellis Pharmaceuticals

In other news, insider Pascal Deschatelets sold 69,107 shares of Apellis Pharmaceuticals stock in a transaction on 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 transaction, the insider now directly owns 1,115,983 shares in the company, valued at approximately $60,452,799.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Timothy Eugene Sullivan sold 4,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $58.66, for a total value of $234,640.00. Following the sale, the chief financial officer now owns 93,338 shares in the company, valued at $5,475,207.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pascal Deschatelets sold 69,107 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 1,115,983 shares in the company, valued at approximately $60,452,799.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 376,427 shares of company stock valued at $23,169,639. 7.50% of the stock is currently owned by company 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).