James George Chopas, Vice President and Chief Accounting Officer of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), sold 1,096 shares of the company's common stock on January 22, according to a recent regulatory filing. The shares were sold at an average price of $30.43, amounting to a total transaction value of $33,346. The transaction comes as the company, with a market capitalization of $3.8 billion, maintains strong liquidity with a current ratio of 4.36. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value assessment.
Following the sale, Chopas holds 48,138 shares of Apellis Pharmaceuticals. The transaction was executed to cover tax withholding obligations related to the release of restricted stock units on January 21. InvestingPro subscribers can access additional insights, including 6 more ProTips and a comprehensive Pro Research Report, which provides deep-dive analysis of APLS among 1,400+ US stocks.
In other recent news, Apellis Pharmaceuticals reported robust 2024 revenues of $709 million, driven by its lead products, SYFOVRE® and EMPAVELI®. Analysts from InvestingPro anticipate continued sales growth. The company plans to submit a supplemental new drug application for EMPAVELI® and initiate Phase 3 studies for pegcetacoplan in 2025. Recent organizational changes include the appointment of David Acheson as Executive Vice President of Commercial.
On the analyst front, 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. Piper Sandler maintained its Neutral rating on Apellis shares, while Goldman Sachs revised its rating from Buy to Neutral.
Lastly, Apellis reported positive Phase III results for EMPAVELI in treating C3 glomerulopathy and immunoglobulin M-associated membranoproliferative glomerulonephritis, with a supplemental New Drug Application submission expected in early 2025. These are the recent developments for Apellis Pharmaceuticals.
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