Apellis Pharmaceuticals (NASDAQ:APLS) Releases Earnings Results, Misses Expectations By $0.14 EPS

Apellis Pharmaceuticals (NASDAQ:APLS) released its quarterly earnings data on Tuesday. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.14), Briefing.com reports. Apellis Pharmaceuticals had a negative return on equity of 138.32% and a negative net margin of 52.99%. The business had revenue of $196.83 million during the quarter, compared to the consensus estimate of $200.00 million. During the same period last year, the business posted ($1.17) earnings per share. The firm’s quarterly revenue was up 78.3% on a year-over-year basis.

Apellis Pharmaceuticals Stock Performance

Apellis Pharmaceuticals stock traded up $0.24 during midday trading on Wednesday, hitting $28.32. The stock had a trading volume of 1,691,131 shares, compared to its average volume of 1,770,797. The firm’s fifty day moving average is $31.58 and its two-hundred day moving average is $37.26. The company has a current ratio of 5.08, a quick ratio of 4.18 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $3.45 billion, a PE ratio of -10.28 and a beta of 0.87. Apellis Pharmaceuticals has a 52-week low of $24.34 and a 52-week high of $73.80.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America decreased their target price on shares of Apellis Pharmaceuticals from $61.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday. Evercore ISI upgraded Apellis Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, October 31st. Oppenheimer reduced their target price on Apellis Pharmaceuticals from $65.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday. Needham & Company LLC lowered their price target on Apellis Pharmaceuticals from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. cut their price target on shares of Apellis Pharmaceuticals from $64.00 to $57.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned 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 a consensus price target of $53.24.

Insider Activity

In related news, Director A. Sinclair Dunlop sold 37,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $36.23, for a total value of $1,340,510.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $3,623,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 6.80% of the company’s stock.

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).