Citigroup Cuts Applied Therapeutics (NASDAQ:APLT) Price Target to $8.00

Applied Therapeutics (NASDAQ:APLT) had its price objective trimmed by Citigroup from $13.00 to $8.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada cut Applied Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $12.00 to $4.00 in a research note on Friday. Robert W. Baird dropped their price objective on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday. William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Finally, Leerink Partners upped their price target 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. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Applied Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $8.80.

Applied Therapeutics Price Performance

Shares of APLT opened at $2.03 on Friday. The company’s fifty day moving average price is $8.71 and its 200-day moving average price is $6.46. Applied Therapeutics has a 1-year low of $1.85 and a 1-year high of $10.62. The firm has a market capitalization of $236.21 million, a PE ratio of -1.26 and a beta of 2.01.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Barclays PLC increased its stake in shares of Applied Therapeutics by 186.1% in the 3rd quarter. Barclays PLC now owns 200,012 shares of the company’s stock valued at $1,702,000 after purchasing an additional 130,102 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Applied Therapeutics in the third quarter valued at approximately $149,000. XTX Topco Ltd purchased a new stake in shares of Applied Therapeutics in the third quarter valued at approximately $531,000. Wellington Management Group LLP acquired a new position in shares of Applied Therapeutics during the 3rd quarter worth approximately $1,717,000. Finally, State Street Corp lifted its position in shares of Applied Therapeutics by 123.1% during the 3rd quarter. State Street Corp now owns 3,694,607 shares of the company’s stock valued at $31,404,000 after buying an additional 2,038,724 shares in the last quarter. 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.