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

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $6.60.

Several research firms recently commented on APLT. Citigroup cut their target price on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 29th. UBS Group restated a “neutral” rating and issued a $2.00 target price (down previously from $13.00) on shares of Applied Therapeutics in a research note on Monday, December 2nd. Leerink Partners increased their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Robert W. Baird cut their price target on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, November 29th. Finally, Royal Bank of Canada cut shares of Applied Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $12.00 to $4.00 in a research note on Friday, November 29th.

Institutional Trading of Applied Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of APLT. Victory Capital Management Inc. acquired a new stake in Applied Therapeutics in the second quarter worth about $54,000. Principal Financial Group Inc. acquired a new stake in shares of Applied Therapeutics during the 2nd quarter worth approximately $54,000. SG Americas Securities LLC acquired a new stake in shares of Applied Therapeutics during the 2nd quarter worth approximately $87,000. Algert Global LLC bought a new stake in shares of Applied Therapeutics during the second quarter worth approximately $110,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Applied Therapeutics in the third quarter valued at approximately $149,000. Institutional investors and hedge funds own 98.31% of the company’s stock.

Applied Therapeutics Stock Down 0.8 %

Shares of Applied Therapeutics stock opened at $1.28 on Tuesday. The stock has a market cap of $148.94 million, a PE ratio of -0.80 and a beta of 1.76. The business has a fifty day simple moving average of $8.04 and a 200-day simple moving average of $6.35. Applied Therapeutics has a 12 month low of $1.18 and a 12 month high of $10.62.

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.