William Blair Downgrades Applied Therapeutics (NASDAQ:APLT) to Market Perform

Applied Therapeutics (NASDAQ:APLT) was downgraded by William Blair from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada cut 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 report on Friday, December 20th. Citigroup decreased their price target on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 29th. UBS Group reaffirmed a “neutral” rating and set a $2.00 target price (down from $13.00) on shares of Applied Therapeutics in a research report on Monday, December 2nd. Robert W. Baird reduced their price target on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. Finally, Leerink Partners upped their price objective on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Applied Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.10.

Applied Therapeutics Stock Down 1.7 %

NASDAQ APLT opened at $0.85 on Monday. The company has a market cap of $99.09 million, a price-to-earnings ratio of -0.53 and a beta of 1.77. Applied Therapeutics has a twelve month low of $0.78 and a twelve month high of $10.62. The business’s fifty day moving average is $6.47 and its 200 day moving average is $6.12.

Institutional Trading of Applied Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Barclays PLC grew its position in Applied Therapeutics by 186.1% during the third quarter. Barclays PLC now owns 200,012 shares of the company’s stock valued at $1,702,000 after buying an additional 130,102 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Applied Therapeutics in the 3rd quarter valued at about $149,000. XTX Topco Ltd purchased a new stake in Applied Therapeutics during the third quarter valued at about $531,000. Wellington Management Group LLP bought a new position in Applied Therapeutics during the third quarter worth about $1,717,000. Finally, State Street Corp increased its stake in shares of Applied Therapeutics by 123.1% in the third quarter. State Street Corp now owns 3,694,607 shares of the company’s stock worth $31,404,000 after purchasing an additional 2,038,724 shares in the last quarter. 98.31% of the stock is currently owned by institutional investors.

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.