Applied Therapeutics, Inc. (NASDAQ:APLT) Receives Average Rating of “Buy” from Analysts

Applied Therapeutics, Inc. (NASDAQ:APLT) has been given an average rating of “Buy” by the six analysts that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $11.00.

Several brokerages recently weighed in on APLT. Royal Bank of Canada restated an “outperform” rating and set a $12.00 target price on shares of Applied Therapeutics in a research note on Wednesday, July 17th. William Blair initiated coverage on shares of Applied Therapeutics in a research note on Wednesday, July 31st. They issued an “outperform” rating on the stock.

Insider Transactions at Applied Therapeutics

In related news, CFO Leslie D. Funtleyder sold 16,980 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.32, for a total value of $73,353.60. Following the completion of the transaction, the chief financial officer now directly owns 291,441 shares in the company, valued at $1,259,025.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Leslie D. Funtleyder sold 16,980 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.32, for a total value of $73,353.60. Following the sale, the chief financial officer now owns 291,441 shares of the company’s stock, valued at $1,259,025.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Riccardo Perfetti sold 22,003 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.32, for a total transaction of $95,052.96. Following the transaction, the insider now owns 1,009,534 shares of the company’s stock, valued at approximately $4,361,186.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 670,369 shares of company stock valued at $3,570,036. 8.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of APLT. Janus Henderson Group PLC boosted its stake in shares of Applied Therapeutics by 198.6% in the 1st quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock valued at $43,555,000 after purchasing an additional 4,266,179 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Applied Therapeutics during the 4th quarter worth approximately $13,919,000. StemPoint Capital LP grew its holdings in Applied Therapeutics by 122.3% during the 1st quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock worth $13,716,000 after acquiring an additional 1,109,864 shares during the period. Artal Group S.A. acquired a new stake in shares of Applied Therapeutics during the first quarter worth $6,865,000. Finally, AIGH Capital Management LLC increased its holdings in Applied Therapeutics by 109.1% in the fourth quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock valued at $5,558,000 after purchasing an additional 865,689 shares during the last quarter. 98.31% of the stock is currently owned by institutional investors and hedge funds.

Applied Therapeutics Price Performance

Applied Therapeutics stock opened at $5.77 on Friday. The firm has a market cap of $659.32 million, a price-to-earnings ratio of -3.14 and a beta of 1.99. The firm has a fifty day moving average price of $5.30 and a two-hundred day moving average price of $5.18. Applied Therapeutics has a fifty-two week low of $1.22 and a fifty-two week high of $9.39.

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.