Brokerages Set Applied Therapeutics, Inc. (NASDAQ:APLT) Target Price at $6.10

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.10.

Several brokerages recently commented on APLT. UBS Group restated a “neutral” rating and issued a $2.00 price target (down previously from $13.00) on shares of Applied Therapeutics in a research report on Monday, December 2nd. Robert W. Baird cut their target price on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 29th. Royal Bank of Canada decreased their target price on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a research report on Friday, December 20th. Citigroup dropped their price target on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, William Blair lowered Applied Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, December 23rd.

Applied Therapeutics Trading Down 1.7 %

APLT stock opened at $0.57 on Friday. Applied Therapeutics has a one year low of $0.54 and a one year high of $10.62. The firm has a 50-day moving average of $0.73 and a two-hundred day moving average of $4.81. The firm has a market capitalization of $65.77 million, a PE ratio of -0.35 and a beta of 1.88.

Institutional Trading of Applied Therapeutics

A number of institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Applied Therapeutics by 165.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock worth $6,249,000 after purchasing an additional 457,940 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Applied Therapeutics by 37.8% in the third quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock worth $89,656,000 after buying an additional 2,893,323 shares during the last quarter. State Street Corp increased its holdings in 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 buying an additional 2,038,724 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Applied Therapeutics by 236.0% during the third quarter. The Manufacturers Life Insurance Company now owns 123,725 shares of the company’s stock valued at $1,052,000 after acquiring an additional 86,901 shares in the last quarter. Finally, Ally Bridge Group NY LLC acquired a new stake in Applied Therapeutics in the third quarter valued at approximately $5,256,000. Institutional investors and hedge funds own 98.31% of the company’s stock.

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.