Applied Therapeutics (NASDAQ:APLT) Price Target Cut to $5.00 by Analysts at Robert W. Baird

Applied Therapeutics (NASDAQ:APLT) had its target price cut by equities researchers at Robert W. Baird from $14.00 to $5.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential downside of 41.66% from the company’s current price.

Several other equities research analysts have also recently weighed in on APLT. Citigroup increased their price target on Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Leerink Partners boosted their price target on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada cut shares of Applied Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $12.00 to $4.00 in a research report on Friday. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $9.40.

Applied Therapeutics Price Performance

Shares of Applied Therapeutics stock traded down $1.64 during trading on Friday, hitting $8.57. The company’s stock had a trading volume of 15,333,985 shares, compared to its average volume of 2,687,166. The stock has a market cap of $997.21 million, a price-to-earnings ratio of -5.32 and a beta of 2.01. Applied Therapeutics has a 52 week low of $1.82 and a 52 week high of $10.62. The stock has a 50-day moving average price of $8.82 and a two-hundred day moving average price of $6.45.

Institutional Trading of Applied Therapeutics

Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new stake in Applied Therapeutics in the second quarter worth $54,000. Principal Financial Group Inc. bought a new stake in Applied Therapeutics in the 2nd quarter valued at about $54,000. Y Intercept Hong Kong Ltd bought a new stake in Applied Therapeutics in the 3rd quarter valued at about $149,000. SG Americas Securities LLC acquired a new position in Applied Therapeutics during the 2nd quarter worth approximately $87,000. Finally, Intech Investment Management LLC bought a new position in Applied Therapeutics in the third quarter worth approximately $162,000. Institutional investors own 98.31% of the company’s stock.

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.