Apellis Pharmaceuticals (NASDAQ:APLS) Releases Earnings Results, Meets Expectations

Apellis Pharmaceuticals (NASDAQ:APLSGet Free Report) posted its earnings results on Tuesday. The company reported ($0.73) EPS for the quarter, hitting the consensus estimate of ($0.73), Briefing.com reports. Apellis Pharmaceuticals had a negative net margin of 133.34% and a negative return on equity of 160.27%. The firm had revenue of $146.38 million for the quarter, compared to the consensus estimate of $143.34 million. During the same period in the prior year, the business posted ($1.50) earnings per share. The business’s quarterly revenue was up 545.9% on a year-over-year basis.

Apellis Pharmaceuticals Price Performance

Shares of Apellis Pharmaceuticals stock traded up $0.27 during midday trading on Thursday, reaching $64.32. The company had a trading volume of 237,711 shares, compared to its average volume of 1,657,758. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.76 and a current ratio of 4.29. The stock has a fifty day simple moving average of $65.25 and a 200 day simple moving average of $52.91. Apellis Pharmaceuticals has a 1-year low of $19.83 and a 1-year high of $94.75.

Analyst Ratings Changes

Several equities research analysts recently weighed in on APLS shares. Needham & Company LLC increased their target price on shares of Apellis Pharmaceuticals from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Wells Fargo & Company cut shares of Apellis Pharmaceuticals from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $67.00 to $54.00 in a research note on Thursday, December 14th. Bank of America upgraded shares of Apellis Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their target price for the company from $52.00 to $85.00 in a research note on Tuesday, December 5th. Wedbush increased their target price on shares of Apellis Pharmaceuticals from $60.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Jefferies Financial Group upgraded shares of Apellis Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price target for the stock from $68.00 to $80.00 in a research note on Monday, February 5th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.40.

Read Our Latest Stock Analysis on APLS

Insider Activity at Apellis Pharmaceuticals

In related news, insider Adam J. Townsend sold 3,413 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $65.00, for a total value of $221,845.00. Following the completion of the sale, the insider now owns 94,507 shares of the company’s stock, valued at $6,142,955. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Cedric Francois sold 13,431 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $65.00, for a total value of $873,015.00. Following the completion of the sale, the chief executive officer now owns 320,467 shares of the company’s stock, valued at $20,830,355. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Adam J. Townsend sold 3,413 shares of Apellis Pharmaceuticals stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $65.00, for a total transaction of $221,845.00. Following the sale, the insider now directly owns 94,507 shares of the company’s stock, valued at approximately $6,142,955. The disclosure for this sale can be found here. Insiders sold a total of 69,898 shares of company stock valued at $4,493,552 over the last quarter. Corporate insiders own 7.50% of the company’s stock.

Institutional Trading of Apellis Pharmaceuticals

A number of institutional investors have recently bought and sold shares of APLS. Bank of New York Mellon Corp grew its holdings in Apellis Pharmaceuticals by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 315,480 shares of the company’s stock worth $16,029,000 after acquiring an additional 17,287 shares during the period. American Century Companies Inc. acquired a new stake in Apellis Pharmaceuticals during the 1st quarter worth $820,000. US Bancorp DE boosted its position in shares of Apellis Pharmaceuticals by 391.2% during the first quarter. US Bancorp DE now owns 1,110 shares of the company’s stock worth $56,000 after purchasing an additional 884 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Apellis Pharmaceuticals by 67.0% during the first quarter. MetLife Investment Management LLC now owns 41,293 shares of the company’s stock worth $2,098,000 after purchasing an additional 16,567 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Apellis Pharmaceuticals by 5.2% during the first quarter. Rhumbline Advisers now owns 77,764 shares of the company’s stock worth $3,951,000 after purchasing an additional 3,835 shares in the last quarter. Institutional investors and hedge funds own 90.43% of the company’s stock.

Apellis Pharmaceuticals Company Profile

(Get Free Report)

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, cold agglutinin disease, C3 glomerulopathy and immune complex membranoproliferative glomerulonephritis, amyotrophic lateral sclerosis, and hematopoietic stem cell transplantation-associated thrombotic microangiopathy; and SYFOVRE for treating geographic atrophy (GA).

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Earnings History for Apellis Pharmaceuticals (NASDAQ:APLS)

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