It has been about a month since the last earnings report for Apellis Pharmaceuticals, Inc. (APLS Quick QuoteAPLS - Free Report) . Shares have lost about 0.5% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Apellis Pharmaceuticals, Inc. due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.

Apellis' Q3 Earnings Miss Estimates, Revenues Top Mark

Apellis reported a loss of $1.75 per share for third-quarter 2022, wider than the Zacks Consensus Estimate of a loss of $1.48. The loss was also wider than our estimate of a loss of $1.46 per share. The company reported a loss of $2.28 per share in the year-ago quarter.

Total revenues were $22.1 million, surpassing the Zacks Consensus Estimate of $20 million. Revenues in the reported quarter included sales of the marketed drug Empaveli, which were $17.7 million and $4.4 million under the collaboration with Swedish Orphan Biovitrum (Sobi). In the year-ago quarter, the company reported revenues of $5.3 million.

Total revenues were higher than our estimate of $20.4 million in the reported quarter.

Quarter in Detail

Research and development expenses were $95.2 million in the third quarter of 2022 compared with $87.7 million in the year-ago quarter. The increase can be primarily attributed to higher personnel-related costs, as well as innovation costs and device development expenses.

General and administrative expenses were $78.4 million in the third quarter of 2022 compared with $45.8 million in the year-ago quarter, driven by higher employee-related costs and an increase in professional and consulting fees.

As of Sep 30, 2022, Apellis had cash, cash equivalents and marketable securities worth $708.6 million compared with $852.8 million as of Jun 30, 2022.

How Have Estimates Been Moving Since Then?

It turns out, estimates review flatlined during the past month.

The consensus estimate has shifted -14.03% due to these changes.

VGM Scores

Currently, Apellis Pharmaceuticals, Inc. has an average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. Charting a somewhat similar path, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Apellis Pharmaceuticals, Inc. has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry Player

Apellis Pharmaceuticals, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Over the past month, Blueprint Medicines (BPMC Quick QuoteBPMC - Free Report) , a stock from the same industry, has gained 13.5%. The company reported its results for the quarter ended September 2022 more than a month ago.

Blueprint Medicines reported revenues of $65.98 million in the last reported quarter, representing a year-over-year change of +172.8%. EPS of -$2.23 for the same period compares with -$2 a year ago.

For the current quarter, Blueprint Medicines is expected to post a loss of $2.67 per share, indicating a change of -169.7% from the year-ago quarter. The Zacks Consensus Estimate has changed -1.4% over the last 30 days.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Blueprint Medicines. Also, the stock has a VGM Score of F.