Pascal Deschatelets, the Chief Scientific Officer of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), recently executed a stock transaction involving the sale of company shares. According to a filing with the Securities and Exchange Commission, Deschatelets sold 750 shares of common stock on January 17, 2025, at an average price of $29.9582 per share, resulting in a total transaction value of $22,468. This sale was executed to cover tax withholding obligations related to Restricted Stock Units released a day earlier. The transaction comes as InvestingPro data shows the stock trading below its Fair Value, with analyst targets ranging from $25 to $78 per share.
Additionally, on January 21, 2025, Deschatelets was granted 15,045 Restricted Stock Units, which will vest annually over four years, contingent upon continued service with the company. Following these transactions, Deschatelets holds 1,152,490 shares of Apellis Pharmaceuticals. The company maintains strong liquidity with a current ratio of 4.36, though analysts don't expect profitability this year. For deeper insights into APLS's financial health and growth prospects, investors can access comprehensive analysis through InvestingPro's detailed research reports, available for over 1,400 US stocks.
In other recent news, Apellis Pharmaceuticals reported impressive growth with preliminary full-year 2024 U.S. net product revenues of approximately $709 million, a 162% increase over the last twelve months. The company's lead products, SYFOVRE® and EMPAVELI®, played significant roles in this performance, generating $611 million and $98 million in net revenues, respectively. Apellis is also preparing for the submission of a supplemental new drug application (sNDA) for EMPAVELI® for the treatment of rare kidney diseases C3G and primary IC-MPGN.
Recent developments include organizational changes at Apellis, with David Acheson succeeding Adam Townsend as Executive Vice President of Commercial. The company also announced plans to initiate Phase 3 studies for pegcetacoplan in two other nephrology indications in the latter half of 2025. Analysts from various firms, including Jefferies, RBC Capital Markets, and Morgan Stanley (NYSE:MS), have provided their insights on recent developments, including the FDA's acceptance of a revised supplemental application from competitor Astellas Pharma for its eye drug.
Goldman Sachs revised its rating for Apellis from Buy to Neutral and adjusted the price target to $36.00. This decision follows insights indicating a smaller patient pool for the treatment of geographic atrophy with Apellis' Syfovre. Despite this, the company reported positive Phase III results for EMPAVELI in treating C3 glomerulopathy and immunoglobulin M-associated membranoproliferative glomerulonephritis, with a supplemental New Drug Application (sNDA) submission expected in early 2025. These are the recent developments for Apellis Pharmaceuticals.
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