Leerink Partners Raises Applied Therapeutics (NASDAQ:APLT) Price Target to $14.00

Applied Therapeutics (NASDAQ:APLT) had its target price upped by Leerink Partners from $11.00 to $14.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the stock. William Blair raised shares of Applied Therapeutics to a strong-buy rating in a research note on Friday, August 30th. Royal Bank of Canada restated an outperform rating and issued a $12.00 price target on shares of Applied Therapeutics in a report on Wednesday, July 17th. Finally, Citigroup increased their price objective on Applied Therapeutics from $7.00 to $8.00 and gave the stock a buy rating in a report on Tuesday, August 27th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Applied Therapeutics has an average rating of Buy and an average price target of $12.50.

Applied Therapeutics Price Performance

NASDAQ:APLT opened at $7.70 on Thursday. The business’s 50-day simple moving average is $5.81 and its 200-day simple moving average is $5.32. Applied Therapeutics has a fifty-two week low of $1.79 and a fifty-two week high of $9.39. The stock has a market capitalization of $879.86 million, a PE ratio of -4.18 and a beta of 2.03.

Applied Therapeutics (NASDAQ:APLT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The business had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $10.00 million. On average, research analysts expect that Applied Therapeutics will post -0.48 earnings per share for the current year.

Insider Buying and Selling at Applied Therapeutics

In other news, CEO Shoshana Shendelman sold 119,591 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total transaction of $709,174.63. Following the completion of the transaction, the chief executive officer now directly owns 4,690,839 shares in the company, valued at approximately $27,816,675.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Applied Therapeutics

A number of institutional investors have recently added to or reduced their stakes in APLT. Janus Henderson Group PLC lifted its stake in Applied Therapeutics by 198.6% in the first quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock valued at $43,555,000 after acquiring an additional 4,266,179 shares during the last quarter. Vestal Point Capital LP bought a new stake in shares of Applied Therapeutics in the 4th quarter valued at about $13,919,000. StemPoint Capital LP lifted its stake in Applied Therapeutics by 122.3% in the 1st quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock valued at $13,716,000 after purchasing an additional 1,109,864 shares during the last quarter. Artal Group S.A. acquired a new stake in Applied Therapeutics in the 1st quarter valued at about $6,865,000. Finally, AIGH Capital Management LLC grew its holdings in Applied Therapeutics by 109.1% during the fourth quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock worth $5,558,000 after purchasing an additional 865,689 shares during the period. 98.31% of the stock is currently owned by institutional investors and hedge funds.

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.