Leerink Partners Raises Applied Therapeutics (NASDAQ:APLT) Price Target to $14.00

Applied Therapeutics (NASDAQ:APLT) had its target price increased by stock analysts at Leerink Partners from $11.00 to $14.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners’ price objective would indicate a potential upside of 78.34% from the company’s previous close.

APLT has been the topic of a number of other research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 price objective on shares of Applied Therapeutics in a research report on Wednesday, July 17th. William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Citigroup raised their price objective on Applied Therapeutics from $7.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Therapeutics currently has a consensus rating of “Buy” and an average target price of $11.75.

Applied Therapeutics Stock Up 68.8 %

Shares of Applied Therapeutics stock opened at $7.85 on Thursday. The stock has a market capitalization of $897.00 million, a P/E ratio of -4.27 and a beta of 2.03. The stock has a 50 day moving average price of $5.71 and a two-hundred day moving average price of $5.31. Applied Therapeutics has a 12-month low of $1.79 and a 12-month high of $9.39.

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

Insider Activity at Applied Therapeutics

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 300,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $5.98, for a total transaction of $1,794,000.00. Following the sale, the chief executive officer now directly owns 5,167,853 shares of the company’s stock, valued at $30,903,760.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Applied Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. bought a new position in shares of Applied Therapeutics during the 2nd quarter worth approximately $54,000. Victory Capital Management Inc. bought a new position in Applied Therapeutics during the second quarter worth $54,000. Jump Financial LLC acquired a new position in shares of Applied Therapeutics in the fourth quarter valued at $81,000. SG Americas Securities LLC bought a new position in shares of Applied Therapeutics in the second quarter valued at about $87,000. Finally, Algert Global LLC bought a new position in shares of Applied Therapeutics in the second quarter valued at about $110,000. Institutional investors and hedge funds 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.