WALTHAM, MA—Adam J. Townsend, Chief Commercial Officer of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), a $3.87 billion market cap biotech company, recently sold 3,323 shares of the company's common stock. The transaction, which took place on January 22, 2025, was executed at an average price of $30.43 per share, amounting to a total value of $101,103. According to InvestingPro analysis, APLS currently trades at $31.12 and appears undervalued based on its Fair Value assessment.
Following this sale, Townsend retains direct ownership of 84,745 shares in the company. According to a footnote in the filing, the shares were sold to cover tax withholding obligations related to the release of Restricted Stock Units on January 21, 2025. InvestingPro data shows the company maintains strong liquidity with a current ratio of 4.36, while analysts anticipate significant sales growth this year. Discover more insights and 6 additional ProTips with an InvestingPro subscription, including the company's comprehensive Pro Research Report.
In other recent news, Apellis Pharmaceuticals reported full-year 2024 U.S. net product revenues of approximately $709 million, a significant increase largely fueled by its lead products, SYFOVRE® and EMPAVELI®. The company also plans to submit a supplemental new drug application (sNDA) for EMPAVELI® for the treatment of rare kidney diseases C3G and primary IC-MPGN. In addition, organizational changes were announced, including the appointment of David Acheson as Executive Vice President of Commercial.
Analysts from various firms have provided their outlooks on Apellis. Morgan Stanley (NYSE:MS) initiated coverage with an Equalweight rating, while Goldman Sachs revised its rating from Buy to Neutral. Despite a competitive setback for Astellas Pharma, Piper Sandler maintained its Neutral rating on Apellis shares.
These are among the recent developments for Apellis, which continues to focus on geographic atrophy treatment with SYFOVRE® and is preparing for Phase 3 studies for pegcetacoplan in two nephrology indications. The company's financial position remains strong, with year-end cash of approximately $410 million expected to fund operations to profitability.
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