APLS

Apellis Pharmaceuticals

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Healthcare

industry

Biotechnology

Exchange

Nasdaq

County of HQ

United States

Next Earnings Date

05/06/26

Business Summary

Apellis Pharmaceuticals is a biotechnology company focused on developing targeted therapies, primarily in immunology and rare diseases, monetizing its pipeline through commercialized drugs and potential label expansions. Cash generation depends on successfully advancing compounds through clinical development and converting them into high-margin specialty pharmaceuticals. Its moat is built around proprietary molecules, clinical data exclusivity, regulatory approvals, and physician adoption within niche therapeutic areas. The durability of its cash flows hinges on patent protection, reimbursement positioning, and the ability to extend indications faster than competitors can introduce alternatives.

VALUATION

P/E

227.3

Market Cap ($M USD)

$5,214

Forward P/E

-

PEG

-

PRICE TO SALES

5.3

PRICE TO BOOK

14.1

EV / EBITDA

74.6

5-Year Average P/E

DIVIDEND

Yield

-

Annual Payout

-

Payout Ratio

-

Consecutive Years of Dividend Growth

0

5-Year Dividend Growth Rate

-

Financial Health & Profitability

Earnings Per Share

$0.18

Next Year EPS Growth Estimate

-$0.24

Next Year Revenue Growth Estimate

19.00%

Return on Equity (ROE)

6.10%

Operating Margin

5.50%

Debt-to-Equity

1.3

Piotroski F-Score

6

Altman Z-Score

2.4

Return on Invested Capital (ROIC)

6.70%%

Current Ratio

3.1

Quick Ratio

Gainseekers Quantitative Analysis

Summary

At $5,214M market cap, APLS is trading at a steep 227.3 P/E with no Forward P/E provided and negative forward growth signals, which immediately challenges any traditional GARP framework. The absence of a forward multiple combined with Sales Growth Next Year of -$0.24 suggests earnings volatility and limited visibility. An Altman Z-Score of 2.4 places the company in the gray zone—financially stable for now but not fortress-grade—while a 3.1 current ratio offsets near-term liquidity concerns. This is not an obvious mispricing; it is a speculative growth biotech priced for continued execution despite fragile forward fundamentals.

AI Exposure / Tech Reliance

As a Biotechnology company within Healthcare, APLS operates in a data-heavy, R&D-driven field where AI increasingly influences drug discovery and clinical development. The sector’s structural reliance on advanced analytics and precision medicine creates inherent exposure to AI-enabled efficiency gains. However, financial resilience will depend more on clinical and commercial execution than on pure technology adoption.

The Bull Case

A value-leaning GARP investor could argue that a 6.70% ROIC and 19.00% ROE show capital is being deployed with reasonable efficiency relative to many biotech peers. Operating margins at 6.10% indicate the business has crossed into operating profitability territory, which is rare in development-heavy biotech. A Piotroski F-Score of 6 signals fundamentally improving or at least stable financial health, not distress. Institutional ownership at 38.00% suggests credible capital has validated the story, and a 3.1 current ratio gives balance sheet breathing room. If earnings normalize and EPS Next Year reaches $0.18, even modest multiple compression could be offset by improving operational consistency.

The Bear Case

The bear case is straightforward: a 227.3 P/E with Sales Growth Next Year at -$0.24 is a dangerous combination. Debt/Equity at 5.50% is not extreme, but in a biotech with thin 6.10% operating margins, leverage amplifies volatility. The absence of a Forward P/E and PEG Forward removes visibility into growth-adjusted valuation, which is unacceptable at this multiple. An Altman Z-Score of 2.4 keeps the company out of distress territory but does not provide safety in a downturn. With Price/Sales at 5.3 and Price/Book at 14.1, investors are paying aggressively for a company that has yet to demonstrate durable, scalable profitability.

Market Sentiment & Smart Money

Short Interest %

23.50%

Analyst Consensus

2.83

Average Analyst Price Target

$38.00

Institutional Ownership %

100.70%

1-Year Beta

3.11

Insider Buying % (6 Mo)

13.70%%

Distance to 52-Week High

100.00%%

Distance to 52-Week Low

253.40%%