Applied Therapeutics (NASDAQ:APLT) Earns “Neutral” Rating from UBS Group

Applied Therapeutics (NASDAQ:APLT)‘s stock had its “neutral” rating reaffirmed by equities researchers at UBS Group in a note issued to investors on Monday, MarketBeat reports. They presently have a $2.00 price objective on the stock, down from their previous price objective of $13.00. UBS Group’s price target points to a potential upside of 18.34% from the company’s current price.

Several other equities analysts have also recently commented on the company. Citigroup reduced their target price on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 29th. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Royal Bank of Canada cut Applied Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $12.00 to $4.00 in a research report on Friday, November 29th. Leerink Partners lifted their price target on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, Robert W. Baird dropped their price target on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.60.

Applied Therapeutics Stock Performance

Shares of NASDAQ APLT opened at $1.69 on Monday. The stock has a market cap of $196.65 million, a PE ratio of -1.05 and a beta of 1.76. Applied Therapeutics has a fifty-two week low of $1.67 and a fifty-two week high of $10.62. The stock has a fifty day moving average of $8.46 and a 200-day moving average of $6.43.

Institutional Investors Weigh In On Applied Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its stake in shares of 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 acquiring an additional 2,893,323 shares during the last quarter. State Street Corp raised its position in Applied Therapeutics by 123.1% during the 3rd quarter. State Street Corp now owns 3,694,607 shares of the company’s stock valued at $31,404,000 after purchasing an additional 2,038,724 shares during the last quarter. Frazier Life Sciences Management L.P. raised its position in Applied Therapeutics by 17.1% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock valued at $10,676,000 after purchasing an additional 333,278 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Applied Therapeutics by 165.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock valued at $6,249,000 after purchasing an additional 457,940 shares during the last quarter. Finally, Peregrine Capital Management LLC bought a new position in Applied Therapeutics during the 2nd quarter valued at approximately $3,414,000. Institutional investors own 98.31% of the company’s stock.

About Applied Therapeutics

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.