Applied Therapeutics, Inc. (NASDAQ:APLT) Receives $6.10 Average Price Target from Analysts

Applied Therapeutics, Inc. (NASDAQ:APLT) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $6.10.

Several equities analysts have recently weighed in on APLT shares. William Blair downgraded shares of Applied Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, December 23rd. UBS Group reissued a “neutral” rating and set a $2.00 target price (down previously from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Leerink Partners raised their price target on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Robert W. Baird dropped their price objective on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. Finally, Royal Bank of Canada reduced their target price on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a report on Friday, December 20th.

Applied Therapeutics Price Performance

Shares of NASDAQ APLT opened at $0.94 on Friday. The business’s fifty day moving average price is $5.03 and its 200-day moving average price is $5.85. Applied Therapeutics has a one year low of $0.77 and a one year high of $10.62. The stock has a market capitalization of $109.81 million, a PE ratio of -0.59 and a beta of 1.77.

Hedge Funds Weigh In On Applied Therapeutics

A number of large investors have recently modified their holdings of APLT. Victory Capital Management Inc. bought a new position in Applied Therapeutics during the second quarter valued at approximately $54,000. Principal Financial Group Inc. purchased a new position in Applied Therapeutics in the 2nd quarter worth $54,000. Algert Global LLC bought a new stake in Applied Therapeutics in the second quarter worth $110,000. Y Intercept Hong Kong Ltd purchased a new stake in Applied Therapeutics during the third quarter valued at about $149,000. Finally, Intech Investment Management LLC bought a new position in shares of Applied Therapeutics during the third quarter valued at about $162,000. 98.31% of the stock is owned by hedge funds and other institutional investors.

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.