Applied Therapeutics (NASDAQ:APLT) Lowered to “Market Perform” Rating by William Blair

William Blair downgraded shares of Applied Therapeutics (NASDAQ:APLT) from an outperform rating to a market perform rating in a research report released on Monday, Marketbeat.com reports.

A number of other brokerages have also weighed in on APLT. Robert W. Baird decreased their price objective on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. Royal Bank of Canada decreased their price target on shares of Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating on the stock in a research note on Friday. Citigroup lowered their price target on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Leerink Partners increased their price objective on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Finally, UBS Group restated a “neutral” rating and set a $2.00 target price (down from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.10.

Applied Therapeutics Price Performance

NASDAQ APLT opened at $0.87 on Monday. The stock’s 50 day simple moving average is $6.47 and its 200-day simple moving average is $6.12. The company has a market cap of $100.85 million, a PE ratio of -0.54 and a beta of 1.77. Applied Therapeutics has a 1-year low of $0.78 and a 1-year high of $10.62.

Institutional Investors Weigh In On Applied Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of APLT. Victory Capital Management Inc. acquired a new position in Applied Therapeutics in the 2nd quarter valued at about $54,000. Principal Financial Group Inc. purchased a new stake in shares of Applied Therapeutics during the 2nd quarter valued at approximately $54,000. Y Intercept Hong Kong Ltd acquired a new position in Applied Therapeutics in the third quarter valued at approximately $149,000. SG Americas Securities LLC purchased a new position in Applied Therapeutics in the second quarter worth approximately $87,000. Finally, Intech Investment Management LLC acquired a new stake in Applied Therapeutics during the third quarter worth $162,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

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.