Brokerages Set Applied Therapeutics, Inc. (NASDAQ:APLT) Target Price at $11.25

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have received an average rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $12.50.

A number of equities research analysts recently weighed in on the company. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Leerink Partners raised their price target on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 price objective on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Finally, Citigroup lifted their target price on shares of Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday.

Insider Activity

In related news, CEO Shoshana Shendelman sold 119,591 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total transaction of $709,174.63. Following the sale, the chief executive officer now owns 4,690,839 shares in the company, valued at $27,816,675.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new stake in Applied Therapeutics in the second quarter valued at approximately $54,000. Principal Financial Group Inc. acquired a new position in shares of Applied Therapeutics in the 2nd quarter valued at $54,000. SG Americas Securities LLC purchased a new stake in shares of Applied Therapeutics during the 2nd quarter valued at $87,000. Algert Global LLC acquired a new stake in shares of Applied Therapeutics during the 2nd quarter worth $110,000. Finally, Jump Financial LLC purchased a new position in shares of Applied Therapeutics in the 4th quarter worth $81,000. 98.31% of the stock is currently owned by hedge funds and other institutional investors.

Applied Therapeutics Stock Down 3.8 %

Shares of NASDAQ:APLT opened at $7.70 on Thursday. The company has a market cap of $879.86 million, a price-to-earnings ratio of -4.18 and a beta of 2.03. The firm’s 50-day simple moving average is $5.81 and its 200-day simple moving average is $5.33. Applied Therapeutics has a fifty-two week low of $1.79 and a fifty-two week high of $9.39.

Applied Therapeutics (NASDAQ:APLT) last issued 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 for the quarter, compared to the consensus estimate of $10.00 million. On average, research analysts forecast that Applied Therapeutics will post -0.48 EPS for the current year.

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.