Robert W. Baird Lowers Applied Therapeutics (NASDAQ:APLT) Price Target to $5.00

Applied Therapeutics (NASDAQ:APLT) had its price objective reduced by Robert W. Baird from $14.00 to $5.00 in a report issued on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently commented on the company. Royal Bank of Canada cut Applied Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $12.00 to $4.00 in a report on Friday. Leerink Partners increased their price target on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Citigroup boosted their price objective on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $8.80.

Applied Therapeutics Price Performance

NASDAQ:APLT opened at $2.03 on Friday. The company’s 50-day moving average is $8.71 and its two-hundred day moving average is $6.46. Applied Therapeutics has a 1-year low of $1.85 and a 1-year high of $10.62. The firm has a market capitalization of $236.21 million, a price-to-earnings ratio of -1.26 and a beta of 2.01.

Hedge Funds Weigh In On Applied Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of APLT. Ally Bridge Group NY LLC purchased a new stake in Applied Therapeutics during the third quarter worth about $5,256,000. Hennion & Walsh Asset Management Inc. increased its stake in Applied Therapeutics by 34.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 265,372 shares of the company’s stock worth $2,256,000 after buying an additional 68,330 shares during the period. Bank of New York Mellon Corp purchased a new stake in Applied Therapeutics during the 2nd quarter worth approximately $1,325,000. Frazier Life Sciences Management L.P. lifted its holdings 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 buying an additional 333,278 shares in the last quarter. Finally, Peregrine Capital Management LLC purchased a new position in Applied Therapeutics in the 2nd quarter valued at approximately $3,414,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

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.