Applied Therapeutics (NASDAQ:APLT) Stock Rating Lowered by Royal Bank of Canada

Applied Therapeutics (NASDAQ:APLT) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Friday, Marketbeat.com reports. They presently have a $4.00 price target on the stock, down from their prior price target of $12.00. Royal Bank of Canada’s price target points to a potential upside of 97.04% from the company’s previous close.

Several other equities analysts also recently commented on the stock. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Leerink Partners boosted their target price on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Finally, Citigroup increased their price target on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $8.80.

Applied Therapeutics Stock Down 76.3 %

NASDAQ APLT opened at $2.03 on Friday. Applied Therapeutics has a 52 week low of $1.85 and a 52 week high of $10.62. The firm has a market capitalization of $236.20 million, a price-to-earnings ratio of -1.26 and a beta of 2.01. The company has a fifty day moving average of $8.71 and a two-hundred day moving average of $6.45.

Institutional Trading of Applied Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of APLT. SG Americas Securities LLC purchased a new position in shares of Applied Therapeutics during the second quarter valued at $87,000. Hennion & Walsh Asset Management Inc. purchased a new position in Applied Therapeutics during the 2nd quarter valued at about $920,000. Bank of New York Mellon Corp bought a new stake in shares of Applied Therapeutics in the 2nd quarter valued at about $1,325,000. Principal Financial Group Inc. bought a new stake in shares of Applied Therapeutics in the 2nd quarter valued at about $54,000. Finally, Peregrine Capital Management LLC purchased a new stake in shares of Applied Therapeutics in the 2nd quarter worth approximately $3,414,000. Institutional investors own 98.31% of the company’s stock.

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.