It has been about a month since the last earnings report for Apellis Pharmaceuticals, Inc. (APLS). Shares have lost about 4.5% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Apellis Pharmaceuticals, Inc. due for a breakout? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Apellis’ Q1 Loss Wider-Than-Expected, Revenues Top Mark
Apellis reported first-quarter 2022 loss per share of $1.42, wider than the Zacks Consensus Estimate of a loss of $1.36. The company reported a loss of $2.32 per share in the year-ago quarter.
Total revenues were $14.4 million, beating the Zacks Consensus Estimate of $13 million. Revenues in the reported quarter comprised sales of marketed drug Empaveli, which were $12.1 million, and $2.3 million under the collaboration with Swedish Orphan Biovitrum (Sobi). In the year-ago quarter, the company did not record any revenues.
Quarter in Detail
Research and development expenses were $90.9 million in the first quarter of 2022 compared with $84 million in the year-ago quarter.
General and administrative expenses were $51.2 million in the first quarter of 2022 compared with $40.6 million in the year-ago quarter.
As of Mar 31, 2022, Apellis had cash, cash equivalents and marketable securities worth $965.3 million compared with $700.6 million as of Dec 31, 2021.
How Have Estimates Been Moving Since Then?
It turns out, estimates revision flatlined during the past month.
The consensus estimate has shifted -21.21% due to these changes.
VGM Scores
At this time, Apellis Pharmaceuticals, Inc. has a subpar Growth Score of D, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren’t focused on one strategy, this score is the one you should be interested in.
Outlook
Apellis Pharmaceuticals, Inc. has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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