James George Chopas, Vice President and Chief Accounting Officer at Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), recently sold shares of the company. According to an SEC filing, Chopas sold 715 shares of common stock on January 17 at a price of $29.96 per share, totaling approximately $21,420. The transaction comes as the stock shows positive momentum, with an 8% gain over the past week. According to InvestingPro analysis, APLS is currently trading below its Fair Value.
In addition to the sale, Chopas acquired 12,591 shares of common stock on January 21 through a Restricted Stock Unit (RSU) award. These shares were granted at no cost and are set to vest 25% annually over four years, contingent upon continued service with the company. Following these transactions, Chopas now holds 49,234 shares of Apellis Pharmaceuticals. The company maintains strong liquidity with a current ratio of 4.36, though InvestingPro data shows it's not yet profitable. Discover more insights and 7 additional ProTips with an InvestingPro subscription.
In other recent news, Apellis Pharmaceuticals reported robust full-year 2024 U.S. net product revenues of approximately $709 million, demonstrating a growth trajectory of 162% over the last twelve months. The company's lead products, SYFOVRE® and EMPAVELI®, generated $611 million and $98 million in net revenues respectively. Analysts at InvestingPro anticipate continued sales growth in the current year. Apellis is 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, with a U.S. launch expected in the second half of 2025 if approved.
The company also announced organizational changes, with David Acheson succeeding Adam Townsend as Executive Vice President of Commercial. Goldman Sachs (NYSE:GS) revised its rating for Apellis from Buy to Neutral and adjusted the price target to $36.00, following insights indicating a smaller patient pool for the treatment of geographic atrophy with Apellis' Syfovre. 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, following a setback for competitor Astellas Pharma, which could potentially give Apellis' Syfovre a competitive edge. These are recent developments at Apellis Pharmaceuticals.
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