UBS Group Reaffirms “Neutral” Rating for Applied Therapeutics (NASDAQ:APLT)

Applied Therapeutics (NASDAQ:APLT)‘s stock had its “neutral” rating reissued by analysts at UBS Group in a research note issued to investors on Monday,Benzinga reports. They currently have a $2.00 price objective on the stock, down from their previous price objective of $13.00. UBS Group’s target price indicates a potential downside of 1.48% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on APLT. Leerink Partners raised their price objective on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Robert W. Baird reduced their price target on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday. Royal Bank of Canada downgraded Applied Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $12.00 to $4.00 in a report on Friday. Citigroup reduced their target price on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Friday. Finally, William Blair raised Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $6.60.

Applied Therapeutics Trading Down 76.3 %

Shares of NASDAQ APLT opened at $2.03 on Monday. The firm has a market capitalization of $236.21 million, a PE ratio of -1.26 and a beta of 2.01. The firm’s 50-day moving average is $8.71 and its 200-day moving average is $6.46. Applied Therapeutics has a 1 year low of $1.85 and a 1 year high of $10.62.

Institutional Investors Weigh In On Applied Therapeutics

Several large investors have recently modified their holdings of APLT. Victory Capital Management Inc. acquired a new position in shares of Applied Therapeutics in the 2nd quarter valued at approximately $54,000. Principal Financial Group Inc. bought a new position in Applied Therapeutics in the second quarter valued at approximately $54,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Applied Therapeutics in the third quarter valued at approximately $149,000. SG Americas Securities LLC bought a new stake in shares of Applied Therapeutics during the second quarter worth $87,000. Finally, Intech Investment Management LLC bought a new stake in shares of Applied Therapeutics during the third quarter worth $162,000. 98.31% of the stock is currently owned by institutional investors.

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.