(APLS) Apellis Pharmaceuticals - Overview
Stock: EMPAVELI, SYFOVRE, Pegcetacoplan, siRNA, Complement Inhibitor
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 63.4% |
| Relative Tail Risk | -14.5% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.12 |
| Alpha | -36.48 |
| Character TTM | |
|---|---|
| Beta | 0.843 |
| Beta Downside | 1.210 |
| Drawdowns 3y | |
|---|---|
| Max DD | 82.47% |
| CAGR/Max DD | -0.28 |
Description: APLS Apellis Pharmaceuticals January 12, 2026
Apellis Pharmaceuticals (NASDAQ:APLS) is a commercial-stage biotech that develops complement-inhibition therapies for high-unmet-need diseases. Its flagship product, EMPAVELI (pegcetacoplan), is approved for paroxysmal nocturnal hemoglobinuria (PNH) and is being pursued in several renal indications, while SYFOVRE targets geographic atrophy (GA) secondary to age-related macular degeneration. The firm also advances APL-3007, an siRNA candidate for GA, and leverages a partnership with Beam Therapeutics to explore base-editing approaches for complement-driven disorders.
As of the latest quarterly filing (Q3 2024), Apellis reported approximately $210 million in cash and marketable securities, giving it roughly 18 months of runway at current burn rates. EMPAVELI generated $120 million in net sales in 2023, reflecting a 35 % YoY growth driven by expanded indications and payer adoption. The GA market is projected to exceed $3 billion by 2028, positioning SYFOVRE in a high-growth segment of ophthalmology, while the broader complement-inhibitor sector is seeing a compound annual growth rate (CAGR) of ~12 % driven by expanding therapeutic applications beyond rare diseases.
For a deeper, data-driven view of Apellis’s valuation dynamics, you might find the analyst tools on ValueRay worth a quick look.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 45.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 30.22 > 1.0 |
| NWC/Revenue: 69.97% < 20% (prev 89.85%; Δ -19.88% < -1%) |
| CFO/TA 0.07 > 3% & CFO 78.9m > Net Income 45.0m |
| Net Debt (-3.80m) to EBITDA (93.4m): -0.04 < 3 |
| Current Ratio: 3.54 > 1.5 & < 3 |
| Outstanding Shares: last quarter (126.0m) vs 12m ago 1.71% < -2% |
| Gross Margin: 88.80% > 18% (prev 0.86%; Δ 8794 % > 0.5%) |
| Asset Turnover: 103.7% > 50% (prev 79.30%; Δ 24.38% > 0%) |
| Interest Coverage Ratio: 2.04 > 6 (EBITDA TTM 93.4m / Interest Expense TTM 45.0m) |
Altman Z'' -8.78
| A: 0.67 (Total Current Assets 990.7m - Total Current Liabilities 279.5m) / Total Assets 1.06b |
| B: -2.79 (Retained Earnings -2.95b / Total Assets 1.06b) |
| C: 0.09 (EBIT TTM 91.7m / Avg Total Assets 980.3m) |
| D: -4.50 (Book Value of Equity -2.96b / Total Liabilities 657.6m) |
| Altman-Z'' Score: -8.78 = D |
Beneish M -2.98
| DSRI: 0.88 (Receivables 354.6m/284.0m, Revenue 1.02b/715.2m) |
| GMI: 0.97 (GM 88.80% / 86.34%) |
| AQI: 0.83 (AQ_t 0.04 / AQ_t-1 0.05) |
| SGI: 1.42 (Revenue 1.02b / 715.2m) |
| TATA: -0.03 (NI 45.0m - CFO 78.9m) / TA 1.06b) |
| Beneish M-Score: -2.98 (Cap -4..+1) = A |
What is the price of APLS shares?
Over the past week, the price has changed by +4.03%, over one month by -1.88%, over three months by +19.18% and over the past year by -22.22%.
Is APLS a buy, sell or hold?
- StrongBuy: 10
- Buy: 4
- Hold: 8
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the APLS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 34 | 44.5% |
| Analysts Target Price | 34 | 44.5% |
| ValueRay Target Price | 21.4 | -8.8% |
APLS Fundamental Data Overview February 03, 2026
P/E Forward = 46.2963
P/S = 2.8108
P/B = 7.2698
Revenue TTM = 1.02b USD
EBIT TTM = 91.7m USD
EBITDA TTM = 93.4m USD
Long Term Debt = 361.1m USD (from longTermDebt, last quarter)
Short Term Debt = 100.6m USD (from shortTermDebt, last quarter)
Debt = 475.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -3.80m USD (from netDebt column, last quarter)
Enterprise Value = 2.85b USD (2.86b + Debt 475.4m - CCE 479.2m)
Interest Coverage Ratio = 2.04 (Ebit TTM 91.7m / Interest Expense TTM 45.0m)
EV/FCF = 36.28x (Enterprise Value 2.85b / FCF TTM 78.6m)
FCF Yield = 2.76% (FCF TTM 78.6m / Enterprise Value 2.85b)
FCF Margin = 7.74% (FCF TTM 78.6m / Revenue TTM 1.02b)
Net Margin = 4.43% (Net Income TTM 45.0m / Revenue TTM 1.02b)
Gross Margin = 88.80% ((Revenue TTM 1.02b - Cost of Revenue TTM 113.8m) / Revenue TTM)
Gross Margin QoQ = 94.65% (prev 92.12%)
Tobins Q-Ratio = 2.69 (Enterprise Value 2.85b / Total Assets 1.06b)
Interest Expense / Debt = 2.37% (Interest Expense 11.3m / Debt 475.4m)
Taxrate = 0.28% (602.0k / 216.3m)
NOPAT = 91.4m (EBIT 91.7m * (1 - 0.28%))
Current Ratio = 3.54 (Total Current Assets 990.7m / Total Current Liabilities 279.5m)
Debt / Equity = 1.18 (Debt 475.4m / totalStockholderEquity, last quarter 401.2m)
Debt / EBITDA = -0.04 (Net Debt -3.80m / EBITDA 93.4m)
Debt / FCF = -0.05 (Net Debt -3.80m / FCF TTM 78.6m)
Total Stockholder Equity = 237.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.59% (Net Income 45.0m / Total Assets 1.06b)
RoE = 18.94% (Net Income TTM 45.0m / Total Stockholder Equity 237.6m)
RoCE = 15.32% (EBIT 91.7m / Capital Employed (Equity 237.6m + L.T.Debt 361.1m))
RoIC = 13.23% (NOPAT 91.4m / Invested Capital 691.3m)
WACC = 8.07% (E(2.86b)/V(3.33b) * Re(9.02%) + D(475.4m)/V(3.33b) * Rd(2.37%) * (1-Tc(0.00)))
Discount Rate = 9.02% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.96%
[DCF Debug] Terminal Value 74.54% ; FCFF base≈78.6m ; Y1≈64.5m ; Y5≈45.9m
Fair Price DCF = 6.61 (EV 832.2m - Net Debt -3.80m = Equity 836.0m / Shares 126.5m; r=8.07% [WACC]; 5y FCF grow -21.61% → 2.90% )
EPS Correlation: 81.44 | EPS CAGR: 48.43% | SUE: 2.88 | # QB: 1
Revenue Correlation: 85.49 | Revenue CAGR: 71.78% | SUE: 3.41 | # QB: 1
EPS next Quarter (2026-03-31): EPS=-0.47 | Chg30d=+0.037 | Revisions Net=-1 | Analysts=8
EPS next Year (2026-12-31): EPS=-1.30 | Chg30d=-0.140 | Revisions Net=-4 | Growth EPS=-590.6% | Growth Revenue=-14.1%