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Apellis (APLS) Stock Up 50% in Three Months: Here's Why?
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Apellis’ (APLS - Free Report) shares have rallied almost 50% in the past three months against the industry's 5.3% decline.
Image Source: Zacks Investment Research
A significant part of this upside can be attributed to the FDA's approval for Syfovre (pegcetacoplan injection) for treating geographic atrophy secondary to age-related macular degeneration. The company launched Syfovre in the United States beginning this March.
Apellis also submitted a marketing authorization application (MAA) to the European Medicines Agency (EMA) for intravitreal pegcetacoplan to treat GA. The EMA subsequently provided MAA validation and the application is under review. A decision regarding the same is expected in early 2024.
Approval of additional drugs will bolster the company’s portfolio.
Apellis’ first marketed product, Empaveli, has shown an encouraging uptrend. The drug is approved as a monotherapy treatment for adult patients suffering from paroxysmal nocturnal hemoglobinuria (PNH). Empaveli recorded sales of $65.1 million in 2022.
In February, Apellis received the FDA approval for the label expansion of Empaveli for treatment-naive PNH patients.
Apellis' Empaveli injector sNDA is also currently under review. Empaveli injector is an on-body drug delivery system capable of self-administering pegcetacoplan through subcutaneous infusion. A potential approval for any of the above indications will significantly boost the company’s performance.
According to a recent Bloomberg article, shares of Apellis have also surged as it is reportedly drawing takeover interest from pharma bigwigs. The report claims that the company has been discussing with its advisors to evaluate options for a possible takeover.
A probable acquisition of Apellis by a larger pharma company would give the former access to significantly larger resources and infrastructure for the marketing and distribution of Syfovre to U.S. patients. The influx of cash would also boost the research and development activities for the candidates in Apellis' pipeline.
Loss per share estimates for CRISPR have narrowed from $8.21 to $7.35 for 2023 in the past 60 days.
The company's earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, the average surprise being 3.19%. CRSP's shares have plunged 9.2% in the past three months.
Loss per share estimates for Kala have narrowed from $19.67 to $15.35 for 2023 and from $14.41 to $13.12 for 2024 in the past 60 days. The company's shares have plunged 41.5% in the past three months.
KALA's earnings beat estimates in two of the last four quarters and missed the mark in the other two, the average surprise being 11.56%.
Loss per share estimates for Allogene Therapeutics have narrowed from $2.83 to $2.44 for 2023 and from $2.69 to $2.46 for 2024 in the past 60 days.
The company's earnings beat estimates in each of the trailing four quarters, the average surprise being 8.33%. ALLO's shares have plunged 35.3% in the past three months.
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Apellis (APLS) Stock Up 50% in Three Months: Here's Why?
Apellis’ (APLS - Free Report) shares have rallied almost 50% in the past three months against the industry's 5.3% decline.
Image Source: Zacks Investment Research
A significant part of this upside can be attributed to the FDA's approval for Syfovre (pegcetacoplan injection) for treating geographic atrophy secondary to age-related macular degeneration. The company launched Syfovre in the United States beginning this March.
Apellis also submitted a marketing authorization application (MAA) to the European Medicines Agency (EMA) for intravitreal pegcetacoplan to treat GA. The EMA subsequently provided MAA validation and the application is under review. A decision regarding the same is expected in early 2024.
Approval of additional drugs will bolster the company’s portfolio.
Apellis’ first marketed product, Empaveli, has shown an encouraging uptrend. The drug is approved as a monotherapy treatment for adult patients suffering from paroxysmal nocturnal hemoglobinuria (PNH). Empaveli recorded sales of $65.1 million in 2022.
In February, Apellis received the FDA approval for the label expansion of Empaveli for treatment-naive PNH patients.
Apellis' Empaveli injector sNDA is also currently under review. Empaveli injector is an on-body drug delivery system capable of self-administering pegcetacoplan through subcutaneous infusion. A potential approval for any of the above indications will significantly boost the company’s performance.
According to a recent Bloomberg article, shares of Apellis have also surged as it is reportedly drawing takeover interest from pharma bigwigs. The report claims that the company has been discussing with its advisors to evaluate options for a possible takeover.
A probable acquisition of Apellis by a larger pharma company would give the former access to significantly larger resources and infrastructure for the marketing and distribution of Syfovre to U.S. patients. The influx of cash would also boost the research and development activities for the candidates in Apellis' pipeline.
Apellis Pharmaceuticals, Inc. Price and Consensus
Apellis Pharmaceuticals, Inc. price-consensus-chart | Apellis Pharmaceuticals, Inc. Quote
Zacks Rank & Stocks to Consider
Currently, Apellis has a Zacks Rank #3 (Hold).
Some better-ranked stocks for investors interested in the same sector are CRISPR Therapeutics (CRSP - Free Report) , Kala Pharmaceuticals (KALA - Free Report) and Allogene Therapeutics (ALLO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Loss per share estimates for CRISPR have narrowed from $8.21 to $7.35 for 2023 in the past 60 days.
The company's earnings beat estimates in two of the trailing four quarters and missed the mark in the other two, the average surprise being 3.19%. CRSP's shares have plunged 9.2% in the past three months.
Loss per share estimates for Kala have narrowed from $19.67 to $15.35 for 2023 and from $14.41 to $13.12 for 2024 in the past 60 days. The company's shares have plunged 41.5% in the past three months.
KALA's earnings beat estimates in two of the last four quarters and missed the mark in the other two, the average surprise being 11.56%.
Loss per share estimates for Allogene Therapeutics have narrowed from $2.83 to $2.44 for 2023 and from $2.69 to $2.46 for 2024 in the past 60 days.
The company's earnings beat estimates in each of the trailing four quarters, the average surprise being 8.33%. ALLO's shares have plunged 35.3% in the past three months.