It has been about a month since the last earnings report for Apellis Pharmaceuticals, Inc. (APLS). Shares have added about 8.9% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Apellis Pharmaceuticals, Inc. due for a pullback? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Apellis’ Q4 Loss Widens, Revenues Surpass Estimates
Apellis reported a fourth-quarter 2021 loss per share of $1.61, wider than the Zacks Consensus Estimate of a loss of $1.32. The company reported earnings of 93 cents per share in the year-ago quarter.
Total revenues were $60 million, which comprehensively beat the Zacks Consensus Estimate of $9 million. Revenues in the reported quarter comprised sales of marketed drug Empaveli which were $9.2 million, and $51.1 million under the collaboration with Swedish Orphan Biovitrum (Sobi). In the year-ago quarter, the company recorded $250 million as licensing revenues.
Quarter in Detail
Research and development expenses were $108.2 million in the fourth quarter of 2021 compared with $75.4 million for the same period in 2020.
General and administrative expenses were $41.5 million in the fourth quarter of 2021 compared with $44.5 million reported in the year-ago quarter.
Apellis ended the fourth quarter with cash, cash equivalents and marketable securities of $700.6 million compared with $430.3 million at the end of the third quarter of 2021.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed an upward trend in estimates revision.
VGM Scores
Currently, Apellis Pharmaceuticals, Inc. has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of F on the value side, putting it in the bottom 20% quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren’t focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, 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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