Applied Therapeutics, Inc. (NASDAQ:APLT) Receives $12.50 Consensus Target Price from Analysts

Applied Therapeutics, Inc. (NASDAQ:APLT) has earned a consensus rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating 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.

Several research firms have recently commented on APLT. William Blair raised Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Citigroup upped their target price on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price target on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Finally, Leerink Partners increased their price objective on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, September 19th.

Applied Therapeutics Stock Performance

Shares of APLT stock opened at $9.90 on Friday. The stock’s fifty day moving average is $7.92 and its 200-day moving average is $6.05. Applied Therapeutics has a 52 week low of $1.79 and a 52 week high of $10.62. The stock has a market capitalization of $1.14 billion, a PE ratio of -6.36 and a beta of 2.01.

Institutional Trading of Applied Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Propel Bio Management LLC grew its holdings in shares of Applied Therapeutics by 13.7% in the 1st quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company’s stock valued at $41,561,000 after acquiring an additional 736,924 shares in the last quarter. StemPoint Capital LP grew its stake in Applied Therapeutics by 122.3% in the first quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock valued at $13,716,000 after purchasing an additional 1,109,864 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Applied Therapeutics during the 1st quarter worth approximately $272,000. Altitude Crest Partners Inc. acquired a new position in shares of Applied Therapeutics during the 1st quarter worth approximately $1,766,000. Finally, Knoll Capital Management LLC raised its stake in shares of Applied Therapeutics by 1.8% during the 1st quarter. Knoll Capital Management LLC now owns 5,574,687 shares of the company’s stock worth $37,908,000 after purchasing an additional 100,000 shares in the last quarter. 98.31% of the stock is currently owned by institutional investors and hedge funds.

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.