Caroline Baumal, the Chief Medical (TASE:PMCN) Officer of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), recently sold shares of the company's common stock. According to a filing with the Securities and Exchange Commission, Baumal sold 2,816 shares at an average price of $33.812 per share, totaling approximately $95,214. The stock has shown strong momentum with an 8.5% gain over the past week, and InvestingPro analysis suggests the stock is currently undervalued.
The transaction was executed on January 6, 2025, and was part of a routine sale intended to cover tax withholding on Restricted Stock Units released earlier in the month. Following this transaction, Baumal retains ownership of 55,560.37 shares in the company. While the company maintains strong liquidity with a current ratio of 4.36, InvestingPro analysis reveals 8 additional key insights about APLS's financial health and growth prospects, available exclusively to subscribers.
In other recent news, Apellis Pharmaceuticals has been a topic of discussion among several analyst firms. RBC Capital Markets lifted its stock target for Apellis to $26.00, maintaining a Sector Perform rating. The company has shown impressive revenue growth of 162.1% over the last twelve months despite market limitations and competition. Goldman Sachs, however, revised its rating for Apellis from Buy to Neutral due to a smaller patient pool for the treatment of geographic atrophy with Apellis' drug Syfovre.
Morgan Stanley (NYSE:MS) initiated coverage on Apellis, assigning an Equalweight rating with a price target of $31.00, predicting over $600 million in revenue approximately two years post-launch of Syfovre. In contrast, Baird reduced its price target for Apellis from $92 to $55, despite a 7% increase in commercial vial demand for SYFOVRE in the third quarter of 2024, resulting in net product revenues of $152 million.
Lastly, Piper Sandler maintained its Neutral rating on Apellis shares, suggesting that a recent FDA decision could potentially give Apellis' Syfovre a competitive edge. These are the recent developments for Apellis Pharmaceuticals.
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