Nicholson Nur, the Chief Technical Officer at Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), a $3.86 billion market cap biotech company with strong revenue growth of 162% in the last twelve months, recently sold 3,948 shares of the company's common stock. The shares were sold at an average price of $30.4255 each, totaling approximately $120,119. Following this transaction, Nur holds 84,489 shares. The sale was conducted to cover tax withholding obligations related to the release of Restricted Stock Units on January 21, 2025. According to InvestingPro analysis, Apellis maintains a healthy financial position with a current ratio of 4.36, indicating strong liquidity. The stock currently trades below its Fair Value, making it one of many opportunities tracked in our Most Undervalued Stocks list.
"In other recent news, Apellis Pharmaceuticals reported impressive full-year 2024 U.S. net product revenues of approximately $709 million, highlighting a growth trajectory of 162% over the last twelve months. The company's lead products, SYFOVRE® and EMPAVELI®, significantly contributed to this performance. Analysts, according to InvestingPro data, anticipate continued sales growth. In addition to these earnings, Apellis is preparing for the submission of a supplemental new drug application (sNDA) for EMPAVELI® for the treatment of rare kidney diseases.
In terms of organizational changes, Apellis announced the departure of Chief Operating Officer Adam Townsend, who will be succeeded by David Acheson. Despite the reassessment of the market outlook for Apellis' own eye drug, Syfovre, Jefferies analyst Akash Tewari maintains a buy rating. Morgan Stanley (NYSE:MS) initiated coverage on Apellis with an Equalweight rating, predicting over $600 million in revenue approximately two years post-launch of Syfovre.
Goldman Sachs revised its rating for Apellis from Buy to Neutral and adjusted the price target to $36.00. Lastly, Apellis reported positive Phase III results for EMPAVELI in treating certain kidney diseases, with a supplemental New Drug Application (sNDA) submission expected in early 2025. These are the recent developments for Apellis Pharmaceuticals."
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