Robert W. Baird Cuts Applied Therapeutics (NASDAQ:APLT) Price Target to $5.00

Applied Therapeutics (NASDAQ:APLT) had its target price decreased by Robert W. Baird from $14.00 to $5.00 in a report released on Friday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

APLT has been the topic of a number of other research reports. Royal Bank of Canada lowered shares of Applied Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $12.00 to $4.00 in a research note on Friday. Leerink Partners lifted their price target on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Citigroup upped their price objective on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $8.80.

Applied Therapeutics Stock Down 76.3 %

Shares of NASDAQ APLT opened at $2.03 on Friday. Applied Therapeutics has a 52 week low of $1.85 and a 52 week high of $10.62. The firm has a market cap of $236.21 million, a P/E ratio of -1.26 and a beta of 2.01. The business’s 50 day moving average price is $8.71 and its 200 day moving average price is $6.46.

Institutional Investors Weigh In On Applied Therapeutics

Several large investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its stake in Applied Therapeutics by 37.8% in the 3rd quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock valued at $89,656,000 after purchasing an additional 2,893,323 shares during the last quarter. State Street Corp lifted its stake in shares of Applied Therapeutics by 123.1% in the third quarter. State Street Corp now owns 3,694,607 shares of the company’s stock worth $31,404,000 after buying an additional 2,038,724 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in Applied Therapeutics during the second quarter worth about $3,414,000. Ally Bridge Group NY LLC purchased a new stake in Applied Therapeutics during the 3rd quarter valued at about $5,256,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Applied Therapeutics by 165.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock valued at $6,249,000 after acquiring an additional 457,940 shares during the last quarter. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

Applied Therapeutics Company Profile

Applied Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in the development of a pipeline of novel product candidates against validated molecular targets in indications of high unmet medical need in the United States. The company's lead product candidate is AT-007 (also called govorestat) that has completed phase 3 for the treatment of galactosemia in healthy volunteers and adults, in pediatric clinical study for the treatment of galactosemia in kids, for treating enzyme sorbitol dehydrogenase, and for the treatment of phosphomannomutase enzyme-CDG.