Apellis Pharmaceuticals Inc. (APLS) stock plummeted by 5.31% in Friday's pre-market session despite reporting better-than-expected earnings for the fourth quarter of 2024. The biopharmaceutical company, which focuses on the development of novel therapeutic compounds to treat various diseases, faced investor skepticism despite its solid financial performance.
According to the earnings report, Apellis reported a quarterly adjusted loss of $0.29 per share, narrower than the analyst consensus estimate of a $0.39 loss. However, the company's revenue surged 45.2% year-over-year to $212.53 million, exceeding Wall Street's expectations of $198.35 million. Despite these positive results, the stock faced significant selling pressure, reflecting investors' concerns about the company's future prospects.
Analysts remain divided on Apellis's outlook, with 14 "strong buy" or "buy" recommendations, 8 "hold" ratings, and no "sell" or "strong sell" ratings. The average consensus recommendation for the pharmaceuticals peer group is also a "buy." Nevertheless, investors may have been wary of the company's ability to sustain its growth trajectory or skeptical about its pipeline of new drug candidates.
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