Applied Therapeutics, Inc. (NASDAQ:APLT) Receives $6.10 Consensus PT from Analysts

Applied Therapeutics, Inc. (NASDAQ:APLT) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $6.10.

Several analysts have recently issued reports on the company. Robert W. Baird reduced their target price on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. Leerink Partners increased their price objective on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Citigroup dropped their target price on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 29th. UBS Group reiterated a “neutral” rating and set a $2.00 price target (down previously from $13.00) on shares of Applied Therapeutics in a research report on Monday, December 2nd. Finally, Royal Bank of Canada dropped their price objective on shares of Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a research note on Friday, December 20th.

Hedge Funds Weigh In On Applied Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in shares of Applied Therapeutics by 165.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock worth $6,249,000 after acquiring an additional 457,940 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Applied Therapeutics by 37.8% during the 3rd quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock worth $89,656,000 after purchasing an additional 2,893,323 shares during the last quarter. State Street Corp lifted its position in shares of Applied Therapeutics by 123.1% in the 3rd quarter. State Street Corp now owns 3,694,607 shares of the company’s stock worth $31,404,000 after purchasing an additional 2,038,724 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Applied Therapeutics by 236.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 123,725 shares of the company’s stock valued at $1,052,000 after purchasing an additional 86,901 shares during the last quarter. Finally, Ally Bridge Group NY LLC acquired a new stake in shares of Applied Therapeutics during the third quarter worth $5,256,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

Applied Therapeutics Stock Down 5.1 %

Shares of NASDAQ:APLT opened at $0.81 on Friday. Applied Therapeutics has a 12-month low of $0.77 and a 12-month high of $10.62. The company’s 50 day moving average price is $5.66 and its two-hundred day moving average price is $5.97. The firm has a market cap of $94.25 million, a PE ratio of -0.50 and a beta of 1.76.

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.