Applied Therapeutics, Inc. (NASDAQ:APLT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have been given a consensus rating of “Moderate Buy” by the six brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $6.10.

A number of research analysts have weighed in on the company. Royal Bank of Canada decreased their price target on 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. William Blair cut shares of Applied Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, December 23rd. UBS Group reissued a “neutral” rating and set a $2.00 target price (down previously from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Robert W. Baird cut their price target on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. Finally, Citigroup cut their price objective 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.

Applied Therapeutics Trading Down 2.2 %

Applied Therapeutics stock opened at $0.51 on Thursday. The company has a fifty day simple moving average of $0.58 and a 200 day simple moving average of $4.07. The company has a market cap of $59.28 million, a P/E ratio of -0.32 and a beta of 1.88. Applied Therapeutics has a 1-year low of $0.43 and a 1-year high of $10.62.

Institutional Investors Weigh In On Applied Therapeutics

Several hedge funds have recently modified their holdings of APLT. Vestal Point Capital LP grew its holdings in Applied Therapeutics by 904.4% during the 4th quarter. Vestal Point Capital LP now owns 11,500,000 shares of the company’s stock worth $9,846,000 after acquiring an additional 10,355,000 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Applied Therapeutics by 2,458.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 8,762,291 shares of the company’s stock worth $7,502,000 after purchasing an additional 8,419,781 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Applied Therapeutics by 2,511.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,420,920 shares of the company’s stock valued at $4,642,000 after buying an additional 5,213,370 shares in the last quarter. Propel Bio Management LLC increased its holdings in shares of Applied Therapeutics by 46.4% during the fourth quarter. Propel Bio Management LLC now owns 9,615,420 shares of the company’s stock valued at $8,233,000 after acquiring an additional 3,047,562 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake 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 valued at $89,656,000 after purchasing an additional 2,893,323 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.