Applied Therapeutics, Inc. (NASDAQ:APLT) Receives $6.10 Consensus PT from Brokerages

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $6.10.

A number of brokerages have recently issued reports on APLT. UBS Group reaffirmed a “neutral” rating and set a $2.00 target price (down from $13.00) on shares of Applied Therapeutics in a research report on Monday, December 2nd. Robert W. Baird cut their price objective on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. Citigroup decreased their target price on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a report on Friday, November 29th. William Blair lowered shares of Applied Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, December 23rd. Finally, Royal Bank of Canada reduced their price target on shares of Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a research report on Friday, December 20th.

Applied Therapeutics Stock Performance

Applied Therapeutics stock opened at $0.64 on Wednesday. The firm has a market cap of $74.34 million, a price-to-earnings ratio of -0.40 and a beta of 1.83. Applied Therapeutics has a 1 year low of $0.60 and a 1 year high of $10.62. The firm’s 50 day moving average price is $2.61 and its two-hundred day moving average price is $5.48.

Institutional Trading of Applied Therapeutics

Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its stake in Applied Therapeutics by 37.8% in the third 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 in the last quarter. State Street Corp lifted its holdings in shares of 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 buying an additional 2,038,724 shares during the last quarter. Frazier Life Sciences Management L.P. grew its stake in shares of Applied Therapeutics by 17.1% in 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 buying an additional 333,278 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Applied Therapeutics by 165.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock worth $6,249,000 after buying an additional 457,940 shares during the last quarter. Finally, Ally Bridge Group NY LLC bought a new position in Applied Therapeutics during the third quarter valued at approximately $5,256,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

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.