Brokerages Set Applied Therapeutics, Inc. (NASDAQ:APLT) PT at $11.25

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have been given a consensus rating of “Buy” by the six analysts that are presently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $12.50.

APLT has been the subject of a number of research analyst reports. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Citigroup boosted their price objective on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Leerink Partners raised their target price on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price target on shares of Applied Therapeutics in a research report on Wednesday, July 17th.

Applied Therapeutics Price Performance

Applied Therapeutics stock opened at $8.38 on Thursday. Applied Therapeutics has a 52-week low of $1.79 and a 52-week high of $9.39. The stock has a fifty day moving average price of $5.94 and a two-hundred day moving average price of $5.36. The firm has a market capitalization of $962.44 million, a P/E ratio of -4.55 and a beta of 2.03.

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

Insider Activity

In other news, CEO Shoshana Shendelman sold 119,591 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $5.93, for a total transaction of $709,174.63. Following the transaction, the chief executive officer now owns 4,690,839 shares of the company’s stock, valued at $27,816,675.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Applied Therapeutics

Several large investors have recently bought and sold shares of APLT. Victory Capital Management Inc. acquired a new stake in Applied Therapeutics during the 2nd quarter worth $54,000. Principal Financial Group Inc. acquired a new stake in shares of Applied Therapeutics during the second quarter worth $54,000. SG Americas Securities LLC bought a new stake in Applied Therapeutics in the second quarter valued at about $87,000. Algert Global LLC acquired a new position in Applied Therapeutics in the second quarter valued at about $110,000. Finally, Jump Financial LLC bought a new position in Applied Therapeutics during the fourth quarter worth about $81,000. 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.