Applied Therapeutics, Inc. (NASDAQ:APLT) Receives $11.00 Consensus Price Target from Analysts

Applied Therapeutics, Inc. (NASDAQ:APLT) has earned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $11.00.

Several research firms have issued reports on APLT. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price objective on shares of Applied Therapeutics in a research note on Wednesday, July 17th. William Blair initiated coverage on Applied Therapeutics in a research note on Wednesday, July 31st. They set an “outperform” rating for the company.

Applied Therapeutics Price Performance

Applied Therapeutics stock opened at $6.10 on Wednesday. The stock has a fifty day moving average price of $4.92 and a two-hundred day moving average price of $4.90. Applied Therapeutics has a 52-week low of $1.18 and a 52-week high of $9.39. The firm has a market capitalization of $697.05 million, a P/E ratio of -3.32 and a beta of 1.99.

Applied Therapeutics (NASDAQ:APLT) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.09). The business had revenue of $0.19 million during the quarter, compared to analysts’ expectations of $10.00 million. On average, equities research analysts predict that Applied Therapeutics will post -0.59 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total value of $631,500.00. Following the completion of the sale, the insider now directly owns 6,005,077 shares in the company, valued at $25,281,374.17. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of Applied Therapeutics stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $4.21, for a total value of $631,500.00. Following the completion of the sale, the insider now directly owns 6,005,077 shares in the company, valued at $25,281,374.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Shoshana Shendelman sold 61,795 shares of Applied Therapeutics stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.32, for a total value of $266,954.40. Following the completion of the sale, the chief executive officer now owns 3,756,019 shares of the company’s stock, valued at $16,226,002.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,778 shares of company stock worth $1,066,861. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Applied Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. acquired a new stake in Applied Therapeutics in the fourth quarter worth about $34,000. Principal Financial Group Inc. acquired a new position in shares of Applied Therapeutics during the 2nd quarter worth about $54,000. Victory Capital Management Inc. acquired a new position in shares of Applied Therapeutics during the 2nd quarter worth about $54,000. Jump Financial LLC acquired a new position in shares of Applied Therapeutics during the 4th quarter worth about $81,000. Finally, SG Americas Securities LLC acquired a new position in shares of Applied Therapeutics during the 2nd quarter worth about $87,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

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.