Applied Therapeutics (NASDAQ:APLT) Given New $8.00 Price Target at Citigroup

Applied Therapeutics (NASDAQ:APLT) had its price objective lowered by Citigroup from $13.00 to $8.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the stock. Robert W. Baird decreased their target price on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday. 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. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Finally, Leerink Partners lifted their price objective on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $8.80.

Applied Therapeutics Trading Down 76.3 %

NASDAQ APLT opened at $2.03 on Friday. The firm has a market capitalization of $236.21 million, a PE ratio of -1.26 and a beta of 2.01. The business’s 50-day moving average price is $8.71 and its two-hundred day moving average price is $6.44. Applied Therapeutics has a 12 month low of $1.85 and a 12 month high of $10.62.

Hedge Funds Weigh In On Applied Therapeutics

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Applied Therapeutics during the 2nd quarter worth approximately $87,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Applied Therapeutics during the second quarter worth approximately $920,000. Bank of New York Mellon Corp bought a new position in shares of Applied Therapeutics in the 2nd quarter worth $1,325,000. Principal Financial Group Inc. acquired a new stake in Applied Therapeutics in the 2nd quarter valued at $54,000. Finally, Peregrine Capital Management LLC bought a new stake in Applied Therapeutics during the 2nd quarter valued at $3,414,000. Institutional investors and hedge funds 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.