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In recent trading activity, Jeffrey Eisele, the Chief Development Officer of Apellis Pharmaceuticals, Inc. (NASDAQ:APLS), has sold a portion of his holdings in the company. According to an SEC filing, Eisele sold 1,291 shares of common stock on January 22, 2025, at an average price of $30.4255 per share. This transaction amounts to a total of $39,279. The stock, currently trading at $31.03, represents a market capitalization of $3.86 billion, with InvestingPro analysis indicating the company is currently undervalued.
Following this sale, Eisele retains ownership of 55,590 shares in the company. The transaction was executed to cover tax withholding obligations related to the release of Restricted Stock Units. With a strong current ratio of 4.36 and an overall "Good" financial health rating according to InvestingPro, which offers comprehensive analysis through its Pro Research Report covering 1,400+ US stocks, Apellis maintains a solid liquidity position.
In other recent news, Apellis Pharmaceuticals reported an impressive revenue growth of 162% over the last year, with full-year 2024 U.S. net product revenues reaching approximately $709 million. The company's lead products, SYFOVRE® and EMPAVELI®, significantly contributed to this performance. According to InvestingPro data, analysts anticipate continued sales growth. 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.
In addition, Apellis announced organizational changes, including the departure of Chief Operating Officer Adam Townsend in February, to be succeeded by David Acheson as Executive Vice President of Commercial. The company is also prioritizing commercial efforts in the U.S. and plans to reduce its ex-U.S. footprint by approximately 40 employees.
In terms of analyst notes, 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 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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