Apellis Pharmaceuticals (NASDAQ:APLS) Announces Quarterly Earnings Results

Apellis Pharmaceuticals (NASDAQ:APLS) released its quarterly earnings data on Tuesday. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.86, Briefing.com reports. Apellis Pharmaceuticals had a return on equity of 18.94% and a net margin of 4.43%.The business had revenue of $199.91 million for the quarter, compared to analysts’ expectations of $199.28 million. During the same quarter in the previous year, the business posted ($0.29) EPS. Apellis Pharmaceuticals’s revenue for the quarter was down 5.9% on a year-over-year basis.

Here are the key takeaways from Apellis Pharmaceuticals’ conference call:

• Empaveli achieved >5% market penetration after its first full quarter with 267 cumulative patient start forms, and management believes it could be used by up to 50% of the ~5,000 U.S. C3G/IC‑MPGN patients over time — signaling a potentially blockbuster launch.
• Syfovre showed underlying demand (total injections up ~17% YoY) but full‑year revenue was modestly down due to elevated free‑goods use; co‑pay assistance reopening and planned rollouts of a prefilled syringe and AI‑enabled OCTF are positioned to support renewed growth in 2027.
• The pipeline advanced meaningfully — pivotal trials for Empaveli in FSGS and delayed graft function are underway, a Syfovre + APL‑3007 Phase 2 (top‑line 2027) is progressing, and APL‑9099 (a first‑in‑class base‑editing FcRn program) targets an IND in H2 2026 — all supporting long‑term upside.
• FY2025 revenue was $1.0B (Q4 $200M) including a one‑time $275M Sobi payment; the company ended the year with $466M cash, expects modestly higher 2026 operating expenses, and has a $94M convertible debt maturing September 2026 that it is evaluating options to address.
• New five‑year GALE post‑hoc data showed Syfovre delayed GA progression by about 1.5 years in non‑subfoveal patients versus sham, reinforcing its long‑term efficacy and the company’s message to drive earlier treatment adoption.

Apellis Pharmaceuticals Stock Performance

APLS traded down $1.06 during trading on Tuesday, reaching $21.41. The company’s stock had a trading volume of 235,967 shares, compared to its average volume of 3,092,106. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.10 and a current ratio of 3.54. Apellis Pharmaceuticals has a 52-week low of $16.10 and a 52-week high of $30.48. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 69.26 and a beta of 0.26. The company’s fifty day moving average price is $23.27 and its 200-day moving average price is $23.86.

Analysts Set New Price Targets

Several research analysts have recently weighed in on APLS shares. JPMorgan Chase & Co. decreased their price objective on Apellis Pharmaceuticals from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Wolfe Research started coverage on shares of Apellis Pharmaceuticals in a report on Thursday, November 6th. They issued a “peer perform” rating for the company. TD Cowen reduced their target price on Apellis Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Barclays started coverage on Apellis Pharmaceuticals in a report on Wednesday, January 28th. They issued an “equal weight” rating and a $24.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Apellis Pharmaceuticals in a report on Monday, December 29th. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $33.00.

Insider Activity at Apellis Pharmaceuticals

In other news, insider Caroline Baumal sold 2,797 shares of Apellis Pharmaceuticals stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total value of $60,890.69. Following the completion of the transaction, the insider owned 86,527 shares in the company, valued at approximately $1,883,692.79. This trade represents a 3.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cedric Francois sold 27,192 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total value of $591,969.84. Following the completion of the transaction, the chief executive officer directly owned 286,045 shares of the company’s stock, valued at $6,227,199.65. This trade represents a 8.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 120,537 shares of company stock worth $2,608,532 over the last three months. Company insiders own 6.50% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. Deep Track Capital LP lifted its position in shares of Apellis Pharmaceuticals by 14.3% in the third quarter. Deep Track Capital LP now owns 8,000,382 shares of the company’s stock worth $181,049,000 after purchasing an additional 1,000,382 shares in the last quarter. RTW Investments LP bought a new stake in Apellis Pharmaceuticals during the fourth quarter worth about $192,589,000. AQR Capital Management LLC boosted its position in Apellis Pharmaceuticals by 46.6% during the second quarter. AQR Capital Management LLC now owns 5,976,414 shares of the company’s stock valued at $103,452,000 after purchasing an additional 1,898,995 shares during the last quarter. State Street Corp boosted its position in Apellis Pharmaceuticals by 14.3% during the fourth quarter. State Street Corp now owns 4,613,446 shares of the company’s stock valued at $115,890,000 after purchasing an additional 575,802 shares during the last quarter. Finally, Suvretta Capital Management LLC grew its stake in Apellis Pharmaceuticals by 43.8% in the fourth quarter. Suvretta Capital Management LLC now owns 4,139,426 shares of the company’s stock valued at $103,982,000 after purchasing an additional 1,261,426 shares in the last quarter. 96.29% of the stock is currently owned by institutional investors.

About Apellis Pharmaceuticals

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.