APLS

Company Overview — What Does Apellis Pharmaceuticals, Inc. Do?

Apellis Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. The company's lead product candidate is pegcetacoplan that is in Phase III clinical trials for the treatment of geographic atrophy (GA) in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria (PNH) diseases. It also develops EMPAVELI (systemic pegcetacoplan) for the treatment of cold agglutinin disease (CAD), and hematopoietic stem cell transplantation-associated thrombotic microangiopathy (HSCT-TMA) in hematology; C3 glomerulopathy (C3G), and immune complex membranoproliferative glomerulonephritis (IC-MPGN) in nephrology; and amyotrophic lateral sclerosis (ALS) in neurology. In addition, the company develops APL-2006, a bispecific C3 and VEGF inhibitor for treating complement-mediated disorders; APL-1030, a C3 inhibitor for the treatment of multiple neurodegenerative diseases; and the combination of EMPAVELI and a small interfering RNA, or siRNA for reducing the production of C3 proteins by the liver. It has a collaboration and license agreement with Swedish Orphan Biovitrum AB (publ) to co-develop pegcetacoplan; and a research collaboration with Beam Therapeutics Inc. focused on the use of Beam's base editing technology to discover new treatments for complement-driven diseases. Apellis Pharmaceuticals, Inc. was incorporated in 2009 and is based in Waltham, Massachusetts. Apellis Pharmaceuticals, Inc. (APLS) is classified as a mid-cap stock in the Healthcare sector, specifically within the Pharmaceutical Products industry. The company is led by CEO Cedric Francois and employs approximately 770 people. With a market capitalization of $5.2B, APLS is one of the notable companies in the Healthcare sector.

Apellis Pharmaceuticals, Inc. (APLS) Stock Rating — Hold (April 2026)

As of April 2026, Apellis Pharmaceuticals, Inc. receives a Hold rating with a composite score of 35.7/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.APLS ranks #1,739 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, Apellis Pharmaceuticals, Inc. ranks #176 of 838 stocks, placing it in the top quartile of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

APLS Stock Price and 52-Week Range

Apellis Pharmaceuticals, Inc. (APLS) currently trades at $40.71. The stock gained $0.06 (0.1%) in the most recent trading session. The 52-week high for APLS is $30.48, which means the stock is currently trading 33.6% from its annual peak. The 52-week low is $16.10, putting the stock 152.9% above its annual trough. Recent trading volume was 6.7M shares, reflecting moderate market activity.

Is APLS Overvalued or Undervalued? — Valuation Analysis

Apellis Pharmaceuticals, Inc. (APLS) carries a value factor score of 58/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 217.76x, compared to the Healthcare sector average of 23.63x — a premium of 822%. The price-to-book ratio stands at 12.97x, versus the sector average of 2.75x. The price-to-sales ratio is 5.20x, compared to 1.66x for the average Healthcare stock. On an enterprise value basis, APLS trades at 87.76x EV/EBITDA, versus 6.34x for the sector.

Overall, APLS's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.

Apellis Pharmaceuticals, Inc. Profitability — ROE, Margins, and Quality Score

Apellis Pharmaceuticals, Inc. (APLS) earns a quality factor score of 22/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 6.0%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 2.3% versus the sector average of -33.1%.

On a margin basis, Apellis Pharmaceuticals, Inc. reports gross margins of 100.0%, compared to 71.5% for the sector. The operating margin is -11.0% (sector: -66.1%). Net profit margin stands at -15.3%, versus -58.7% for the average Healthcare stock. Revenue growth is running at 129.7% on a trailing basis, compared to 10.6% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

APLS Debt, Balance Sheet, and Financial Health

Apellis Pharmaceuticals, Inc. has a debt-to-equity ratio of 164.0%, compared to the Healthcare sector average of 32.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 3.54x, indicating strong short-term liquidity. Total debt on the balance sheet is $455M. Cash and equivalents stand at $479M.

APLS has a beta of 1.90, meaning it is more volatile than the broader market — a $10,000 investment in APLS would be expected to move 89.8% more than the S&P 500 on any given day. The stability factor score for Apellis Pharmaceuticals, Inc. is 15/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Apellis Pharmaceuticals, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Apellis Pharmaceuticals, Inc. reported revenue of $1.00B and earnings per share (EPS) of $1.71. Net income for the quarter was $24M. Gross margin was 100.0%. Operating income came in at $59M.

In Q3 2025, Apellis Pharmaceuticals, Inc. reported revenue of $459M and earnings per share (EPS) of $1.71. Net income for the quarter was $216M. Revenue grew 133.0% year-over-year compared to Q3 2024. Operating income came in at $223M.

In Q2 2025, Apellis Pharmaceuticals, Inc. reported revenue of $178M and earnings per share (EPS) of $-0.33. Net income for the quarter was $-42M. Revenue grew -10.6% year-over-year compared to Q2 2024. Operating income came in at $-33M.

In Q1 2025, Apellis Pharmaceuticals, Inc. reported revenue of $167M and earnings per share (EPS) of $-0.74. Net income for the quarter was $-92M. Revenue grew -3.2% year-over-year compared to Q1 2024. Operating income came in at $-83M.

Over the past 8 quarters, Apellis Pharmaceuticals, Inc. has demonstrated a growth trajectory, with revenue expanding from $172M to $1.00B. Investors analyzing APLS stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

APLS Dividend Yield and Income Analysis

Apellis Pharmaceuticals, Inc. (APLS) does not currently pay a dividend. This is common among smaller companies in the Pharmaceutical Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

APLS Momentum and Technical Analysis Profile

Apellis Pharmaceuticals, Inc. (APLS) has a momentum factor score of 51/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 21/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 42/100 reflects moderate short selling activity.

APLS vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, Apellis Pharmaceuticals, Inc. (APLS) ranks #176 out of 838 stocks based on the Blank Capital composite score. This places APLS in the top quartile of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing APLS against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full APLS vs S&P 500 (SPY) comparison to assess how Apellis Pharmaceuticals, Inc. stacks up against the broader market across all factor dimensions.

APLS Next Earnings Date

No upcoming earnings date has been announced for Apellis Pharmaceuticals, Inc. (APLS) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy APLS? — Investment Thesis Summary

Apellis Pharmaceuticals, Inc. presents a balanced picture with arguments on both sides. The quality score of 22/100 flags below-average profitability. High volatility (stability score 15/100) increases portfolio risk.

In summary, Apellis Pharmaceuticals, Inc. (APLS) earns a Hold rating with a composite score of 35.7/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on APLS stock.

Related Resources for APLS Investors

Explore more research and tools: APLS vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare APLS head-to-head with peers: APLS vs AZN, APLS vs SLGL, APLS vs VMD.