Applied Therapeutics (NASDAQ:APLT) PT Raised to $14.00

Applied Therapeutics (NASDAQ:APLT) had its price target hoisted by stock analysts at Leerink Partners from $11.00 to $14.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ price target suggests a potential upside of 78.34% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Citigroup boosted their price objective on shares of Applied Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 price target on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Finally, William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Applied Therapeutics has a consensus rating of “Buy” and a consensus target price of $11.75.

Applied Therapeutics Price Performance

APLT opened at $7.85 on Thursday. The business has a fifty day simple moving average of $5.71 and a 200 day simple moving average of $5.31. Applied Therapeutics has a 1 year low of $1.79 and a 1 year high of $9.39. The company has a market capitalization of $897.00 million, a PE ratio of -4.27 and a beta of 2.03.

Applied Therapeutics (NASDAQ:APLT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The firm had revenue of $0.14 million for the quarter, compared to the consensus estimate of $10.00 million. Equities analysts anticipate that Applied Therapeutics will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 119,591 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total transaction of $709,174.63. Following the completion of the transaction, the chief executive officer now directly owns 4,690,839 shares in the company, valued at $27,816,675.27. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of APLT. Algert Global LLC bought a new position in shares of Applied Therapeutics in the second quarter worth about $110,000. Frazier Life Sciences Management L.P. increased its position in Applied Therapeutics by 17.1% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after purchasing an additional 333,278 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Applied Therapeutics in the 2nd quarter valued at approximately $172,000. Sei Investments Co. acquired a new stake in Applied Therapeutics in the second quarter valued at approximately $535,000. Finally, Victory Capital Management Inc. acquired a new stake in Applied Therapeutics in the second quarter valued at approximately $54,000. Institutional investors own 98.31% of the company’s stock.

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.