Applied Therapeutics, Inc. (NASDAQ:APLT) Receives $6.10 Consensus Target Price from Brokerages

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.10.

A number of research analysts have recently commented on APLT shares. UBS Group reaffirmed a “neutral” rating and set a $2.00 price objective (down previously from $13.00) on shares of Applied Therapeutics in a research note on Monday, December 2nd. William Blair lowered shares of Applied Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, December 23rd. Robert W. Baird decreased their price target on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. Royal Bank of Canada dropped their price objective on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a report on Friday, December 20th. Finally, Citigroup reduced their target price on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 29th.

Applied Therapeutics Trading Down 3.8 %

Applied Therapeutics stock opened at $0.57 on Wednesday. The stock has a fifty day moving average price of $2.29 and a 200 day moving average price of $5.42. Applied Therapeutics has a 52 week low of $0.56 and a 52 week high of $10.62. The firm has a market capitalization of $66.44 million, a P/E ratio of -0.35 and a beta of 1.83.

Institutional Trading of Applied Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its position in Applied Therapeutics by 169.0% in the fourth quarter. SG Americas Securities LLC now owns 40,747 shares of the company’s stock valued at $35,000 after purchasing an additional 25,601 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Applied Therapeutics during the 2nd quarter valued at about $54,000. Algert Global LLC acquired a new position in Applied Therapeutics during the 2nd quarter worth approximately $110,000. Y Intercept Hong Kong Ltd purchased a new position in Applied Therapeutics in the 3rd quarter worth approximately $149,000. Finally, Intech Investment Management LLC acquired a new stake in Applied Therapeutics in the third quarter valued at approximately $162,000. 98.31% of the stock is owned by hedge funds and other institutional investors.

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.