Applied Therapeutics, Inc. (NASDAQ:APLT) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have been assigned a consensus rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $11.25.

APLT has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Applied Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 price objective on shares of Applied Therapeutics in a report on Wednesday, July 17th. Finally, William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th.

Insider Buying and Selling

In related news, CEO Shoshana Shendelman sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $5.98, for a total transaction of $1,794,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,167,853 shares in the company, valued at $30,903,760.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Applied Therapeutics

Several hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new stake in shares of Applied Therapeutics in the 2nd quarter valued at approximately $54,000. Principal Financial Group Inc. purchased a new stake in shares of Applied Therapeutics in the 2nd quarter valued at approximately $54,000. SG Americas Securities LLC purchased a new stake in shares of Applied Therapeutics in the 2nd quarter valued at approximately $87,000. Algert Global LLC purchased a new stake in shares of Applied Therapeutics in the 2nd quarter valued at approximately $110,000. Finally, Jump Financial LLC purchased a new stake in shares of Applied Therapeutics in the 4th quarter valued at approximately $81,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Trading Up 68.8 %

NASDAQ APLT opened at $7.85 on Thursday. Applied Therapeutics has a 52 week low of $1.79 and a 52 week high of $9.39. The stock has a market cap of $897.00 million, a price-to-earnings ratio of -4.27 and a beta of 2.03. The company has a 50-day moving average price of $5.71 and a two-hundred day moving average price of $5.31.

Applied Therapeutics (NASDAQ:APLT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The business had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $10.00 million. As a group, equities research analysts expect that Applied Therapeutics will post -0.48 earnings per share for the current fiscal year.

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.