Applied Therapeutics (NASDAQ:APLT) Cut to Sector Perform at Royal Bank of Canada

Royal Bank of Canada downgraded shares of Applied Therapeutics (NASDAQ:APLT) from an outperform rating to a sector perform rating in a research report report published on Friday, MarketBeat.com reports. They currently have $4.00 price target on the stock, down from their prior price target of $12.00.

APLT has been the subject of a number of other research reports. Citigroup lifted their price target on shares of Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Leerink Partners increased their target price on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Applied Therapeutics has a consensus rating of “Buy” and a consensus target price of $8.80.

Applied Therapeutics Stock Down 76.3 %

Applied Therapeutics stock opened at $2.03 on Friday. The company’s 50 day moving average is $8.71 and its two-hundred day moving average is $6.46. The firm has a market cap of $236.21 million, a PE ratio of -1.26 and a beta of 2.01. Applied Therapeutics has a 52-week low of $1.85 and a 52-week high of $10.62.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of APLT. Barclays PLC lifted its stake in shares of Applied Therapeutics by 186.1% in the 3rd quarter. Barclays PLC now owns 200,012 shares of the company’s stock worth $1,702,000 after acquiring an additional 130,102 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Applied Therapeutics during the third quarter worth about $149,000. XTX Topco Ltd acquired a new stake in Applied Therapeutics in the third quarter valued at about $531,000. Wellington Management Group LLP purchased a new stake in Applied Therapeutics in the 3rd quarter valued at approximately $1,717,000. Finally, State Street Corp increased 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 worth $31,404,000 after purchasing an additional 2,038,724 shares during the period. Institutional investors and hedge funds 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.