Applied Therapeutics (NASDAQ:APLT) Reaches New 12-Month High – What’s Next?

Applied Therapeutics, Inc. (NASDAQ:APLT) shares reached a new 52-week high during trading on Monday . The company traded as high as $10.20 and last traded at $10.20, with a volume of 5947 shares trading hands. The stock had previously closed at $10.09.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on APLT shares. Royal Bank of Canada restated an “outperform” rating and set a $12.00 price objective on shares of Applied Therapeutics in a report on Wednesday, July 17th. Leerink Partners lifted their price target 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. Citigroup increased 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. Finally, William Blair raised Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $12.50.

Applied Therapeutics Trading Down 3.3 %

The firm’s 50-day moving average price is $7.92 and its two-hundred day moving average price is $6.05. The stock has a market cap of $1.14 billion, a PE ratio of -6.36 and a beta of 2.01.

Institutional Trading of Applied Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its stake in Applied Therapeutics by 198.6% in the first quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock valued at $43,555,000 after purchasing an additional 4,266,179 shares during the last quarter. Propel Bio Management LLC raised its stake in shares of Applied Therapeutics by 13.7% during the 1st quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company’s stock worth $41,561,000 after acquiring an additional 736,924 shares in the last quarter. Knoll Capital Management LLC boosted its stake in Applied Therapeutics by 1.8% in the first quarter. Knoll Capital Management LLC now owns 5,574,687 shares of the company’s stock valued at $37,908,000 after acquiring an additional 100,000 shares in the last quarter. Frazier Life Sciences Management L.P. grew its holdings in Applied Therapeutics by 17.1% in the second quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after purchasing an additional 333,278 shares during the last quarter. Finally, StemPoint Capital LP increased its position in shares of Applied Therapeutics by 122.3% during the first quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock worth $13,716,000 after purchasing an additional 1,109,864 shares in the last quarter. 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.