Apellis Pharmaceuticals (NASDAQ:APLS) Releases Quarterly Earnings Results

Apellis Pharmaceuticals (NASDAQ:APLS) announced its earnings results on Tuesday. The company reported $0.47 EPS for the quarter, topping the consensus estimate of ($0.39) by $0.86, Briefing.com reports. The firm had revenue of $199.91 million for the quarter, compared to the consensus estimate of $199.28 million. Apellis Pharmaceuticals had a net margin of 4.43% and a return on equity of 18.94%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the company posted ($0.29) EPS.

Here are the key takeaways from Apellis Pharmaceuticals’ conference call:

• Empaveli achieved >5% market penetration after its first full quarter with 267 cumulative patient start forms, and management believes it could be used by up to 50% of the ~5,000 U.S. C3G/IC?MPGN patients over time — signaling a potentially blockbuster launch.
• Syfovre showed underlying demand (total injections up ~17% YoY) but full?year revenue was modestly down due to elevated free?goods use; co?pay assistance reopening and planned rollouts of a prefilled syringe and AI?enabled OCTF are positioned to support renewed growth in 2027.
• The pipeline advanced meaningfully — pivotal trials for Empaveli in FSGS and delayed graft function are underway, a Syfovre + APL?3007 Phase 2 (top?line 2027) is progressing, and APL?9099 (a first?in?class base?editing FcRn program) targets an IND in H2 2026 — all supporting long?term upside.
• FY2025 revenue was $1.0B (Q4 $200M) including a one?time $275M Sobi payment; the company ended the year with $466M cash, expects modestly higher 2026 operating expenses, and has a $94M convertible debt maturing September 2026 that it is evaluating options to address.
• New five?year GALE post?hoc data showed Syfovre delayed GA progression by about 1.5 years in non?subfoveal patients versus sham, reinforcing its long?term efficacy and the company’s message to drive earlier treatment adoption.

Apellis Pharmaceuticals Trading Down 1.5%

APLS stock opened at $22.13 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.10 and a current ratio of 3.54. The company’s 50-day simple moving average is $23.20 and its 200 day simple moving average is $23.84. Apellis Pharmaceuticals has a 52 week low of $16.10 and a 52 week high of $30.48. The company has a market capitalization of $2.80 billion, a PE ratio of 71.39 and a beta of 0.26.

Analyst Upgrades and Downgrades

APLS has been the subject of several recent analyst reports. The Goldman Sachs Group reiterated a “sell” rating and issued a $19.00 target price on shares of Apellis Pharmaceuticals in a research note on Monday, January 12th. Stifel Nicolaus dropped their price target on Apellis Pharmaceuticals from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Mizuho reduced their price objective on shares of Apellis Pharmaceuticals from $24.00 to $19.00 and set a “neutral” rating for the company in a research report on Monday, November 3rd. TD Cowen decreased their price objective on shares of Apellis Pharmaceuticals from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Apellis Pharmaceuticals in a research note on Monday, December 29th. Twelve analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Apellis Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $33.00.

Insiders Place Their Bets

In other Apellis Pharmaceuticals news, insider Pascal Deschatelets sold 5,928 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $21.77, for a total value of $129,052.56. Following the completion of the sale, the insider owned 1,151,382 shares of the company’s stock, valued at $25,065,586.14. The trade was a 0.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Caroline Baumal sold 2,797 shares of the stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $21.77, for a total transaction of $60,890.69. Following the transaction, the insider owned 86,527 shares in the company, valued at approximately $1,883,692.79. The trade was a 3.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 120,537 shares of company stock worth $2,608,532. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Apellis Pharmaceuticals

Large investors have recently modified their holdings of the stock. RTW Investments LP acquired a new position in Apellis Pharmaceuticals in the fourth quarter valued at about $192,589,000. AQR Capital Management LLC increased its holdings in Apellis Pharmaceuticals by 46.6% in the 2nd quarter. AQR Capital Management LLC now owns 5,976,414 shares of the company’s stock valued at $103,452,000 after buying an additional 1,898,995 shares during the period. Polar Capital Holdings Plc raised its position in shares of Apellis Pharmaceuticals by 96.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 2,650,230 shares of the company’s stock valued at $59,975,000 after buying an additional 1,298,055 shares in the last quarter. Suvretta Capital Management LLC lifted its holdings in shares of Apellis Pharmaceuticals by 43.8% during the 4th quarter. Suvretta Capital Management LLC now owns 4,139,426 shares of the company’s stock worth $103,982,000 after acquiring an additional 1,261,426 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Apellis Pharmaceuticals by 563.7% during the 3rd quarter. Millennium Management LLC now owns 1,343,726 shares of the company’s stock worth $30,409,000 after acquiring an additional 1,141,274 shares during the period. 96.29% of the stock is owned by institutional investors and hedge funds.

More Apellis Pharmaceuticals News

Here are the key news stories impacting Apellis Pharmaceuticals this week:

• Positive Sentiment: Q4 EPS beat — Apellis reported $0.47 EPS, well ahead of expectations (consensus losses), reversing prior-year losses and showing margin improvement. Apellis Pharmaceuticals, Inc. (APLS) Surpasses Q4 Earnings and Revenue Estimates
• Neutral Sentiment: Company released full Q4 and FY2025 results and accompanying slide deck / press release (details on revenue, margins, and investor materials available). Apellis Pharmaceuticals Reports Fourth Quarter and Full Year 2025 Financial Results
• Neutral Sentiment: Earnings call transcript is available for detail on management commentary (useful for checking guidance/comments on product trends and commercial cadence). Apellis Pharmaceuticals, Inc. (APLS) Q4 2025 Earnings Call Transcript
• Neutral Sentiment: Apellis will present at the TD Cowen healthcare conference on March 2 — an upcoming event where management could provide additional color. Apellis Pharmaceuticals to Present at the TD Cowen 46th Annual Health Care Conference
• Negative Sentiment: Revenue softness — Q4 revenue was $199.9M (down ~5.9% y/y) and essentially flat versus expectations, signaling underlying demand headwinds that may limit upside unless guidance improves. Apellis 2026 Q4 Press Release / Slide Deck
• Negative Sentiment: Mixed fundamentals & technicals — despite the EPS beat, analyst consensus still models negative EPS for the year and the stock sits below its 50/200?day moving averages with a high reported P/E, which can weigh on sentiment absent clearer revenue recovery. Apellis Earnings Summary (MarketBeat)

Apellis Pharmaceuticals Company Profile

Apellis Pharmaceuticals, Inc, traded as NASDAQ:APLS, is a clinical-stage biopharmaceutical company focused on the development of novel therapies targeting the complement cascade for the treatment of rare and debilitating diseases. The company’s research and development efforts center on modulating complement proteins to address a range of ophthalmologic, hematologic and renal conditions. Apellis leverages its proprietary compstatin technology platform to design targeted inhibitors intended to improve patient outcomes and quality of life.

The company’s lead marketed product, Syfovre (pegcetacoplan), is an intravitreal complement C3 inhibitor approved for geographic atrophy secondary to age-related macular degeneration, with ongoing investigations in other retinal disorders.