Applied Therapeutics, Inc. (NASDAQ:APLT) Receives $6.60 Consensus PT from Analysts

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $6.60.

A number of analysts have commented on the stock. Royal Bank of Canada downgraded shares of Applied Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $12.00 to $4.00 in a research report on Friday, November 29th. Robert W. Baird dropped their target price on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. Leerink Partners boosted their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. UBS Group reiterated a “neutral” rating and issued a $2.00 target price (down from $13.00) on shares of Applied Therapeutics in a report on Monday. Finally, Citigroup dropped their target price on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 29th.

Institutional Trading of Applied Therapeutics

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new position in Applied Therapeutics during the second quarter worth $87,000. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Applied Therapeutics during the second quarter worth about $920,000. Bank of New York Mellon Corp bought a new stake in shares of Applied Therapeutics during the second quarter worth about $1,325,000. Principal Financial Group Inc. bought a new stake in Applied Therapeutics in the second quarter valued at approximately $54,000. Finally, Peregrine Capital Management LLC bought a new stake in Applied Therapeutics in the second quarter valued at approximately $3,414,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

Applied Therapeutics Trading Down 6.5 %

APLT stock opened at $1.29 on Tuesday. Applied Therapeutics has a 52 week low of $1.20 and a 52 week high of $10.62. The company has a market capitalization of $150.10 million, a price-to-earnings ratio of -0.80 and a beta of 1.76. The firm’s 50-day moving average is $8.18 and its two-hundred day moving average is $6.36.

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.