Applied Therapeutics (NASDAQ:APLT) Lowered to “Market Perform” Rating by William Blair

Applied Therapeutics (NASDAQ:APLT) was downgraded by research analysts at William Blair from an “outperform” rating to a “market perform” rating in a report released on Monday, MarketBeat Ratings reports.

Other equities research analysts also recently issued research reports about the company. Leerink Partners upped their price objective on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. UBS Group reaffirmed a “neutral” rating and issued a $2.00 price target (down from $13.00) on shares of Applied Therapeutics in a research note on Monday, December 2nd. Royal Bank of Canada reduced their price objective on shares of Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating on the stock in a research note on Friday. Citigroup lowered 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 note on Friday, November 29th. Finally, Robert W. Baird reduced their price target on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.10.

Applied Therapeutics Stock Performance

Shares of Applied Therapeutics stock opened at $0.88 on Monday. The firm has a fifty day moving average of $6.63 and a two-hundred day moving average of $6.15. The stock has a market capitalization of $102.40 million, a price-to-earnings ratio of -0.55 and a beta of 1.76. Applied Therapeutics has a 52 week low of $0.84 and a 52 week high of $10.62.

Institutional Trading of Applied Therapeutics

Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. bought a new stake in shares of Applied Therapeutics during the second quarter worth $54,000. Victory Capital Management Inc. bought a new position in Applied Therapeutics during the 2nd quarter worth about $54,000. SG Americas Securities LLC acquired a new stake in shares of Applied Therapeutics in the 2nd quarter valued at about $87,000. Algert Global LLC bought a new stake in shares of Applied Therapeutics in the second quarter valued at about $110,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Applied Therapeutics during the third quarter worth about $149,000. 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.