David O. Watson, general counsel of Apellis Pharmaceuticals, Inc. (NASDAQ:), a biopharmaceutical company with a market capitalization of $3.75 billion, said he sold 2,201 shares of the company’s common stock on January 17, 2025. The shares were sold at an average price of $29.9582, for a total transaction value of $65,937. Following this sale, Watson directly owns 105,555 shares. According to InvestPro According to the analysis, APLS stock showed strong momentum with a return of 8.11% over the past week.
In a separate transaction on January 21, 2025, Watson received 42,762 restricted stock units. These units vest at 25% per year over four years, subject to continued service in the company. This allocation did not result in any cash transaction. InvestPro data shows that the company maintains a healthy financial position with liquid assets exceeding short-term obligations by 4.36 times, suggesting strong financial stability.
Watson also holds shares indirectly through various trusts and custodial accounts. These include 3,333 shares in a custodial account for his son, 70,136 shares of the 2023 David O. Watson Irrevocable Trust and 6,667 shares of the Watson Education Trust. Watson disclaims beneficial ownership of these shares except to the extent of its pecuniary interest. Based on InvestProAccording to APLS fair value analysis, APLS currently appears undervalued, with additional information available in Pro Research’s full report covering this stock and over 1,400 other U.S. stocks.
Separately, Apellis Pharmaceuticals reported full-year 2024 U.S. product net revenue of approximately $709 million, representing a growth trajectory of 162% over the past twelve months . The Company’s flagship products, SYFOVRE® and EMPAVELI®, generated $611 million and $98 million in net revenue, respectively. These developments indicate continued sales growth for the current year, as InvestingPro data suggests.
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. The company plans to initiate phase 3 studies of pegcetacoplan in two additional nephrology indications in the second half of 2025. Additionally, organizational changes were announced, with David Acheson succeeding Adam Townsend as executive vice president of trade.
Analyst notes from Jefferies and RBC Capital Markets suggest a reassessment of the market outlook for Apellis’ eye drug Syfovre due to the FDA’s acceptance of a revised supplemental application from competitor Astellas Pharma. Despite this, Jefferies maintains a Buy rating on Syfovre. Morgan Stanley (NYSE:) initiated coverage on Apellis with an Equalweight rating, forecasting revenue of more than $600 million approximately two years after Syfovre’s launch, while Goldman Sachs revised its rating for Apellis from Buy to Neutral. These are recent developments from Apellis Pharmaceuticals.
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