Applied Therapeutics, Inc. (NASDAQ:APLT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $6.10.

Several research analysts recently weighed in on APLT shares. Robert W. Baird dropped their target price on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, November 29th. UBS Group restated a “neutral” rating and set a $2.00 target price (down from $13.00) on shares of Applied Therapeutics in a research note on Monday, December 2nd. Citigroup dropped their target price on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. William Blair downgraded Applied Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, December 23rd. Finally, Royal Bank of Canada dropped their target price on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating on the stock in a research note on Friday, December 20th.

Institutional Trading of Applied Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new stake in Applied Therapeutics during the 3rd quarter valued at about $149,000. Dark Forest Capital Management LP grew its stake in Applied Therapeutics by 54.5% during the 4th quarter. Dark Forest Capital Management LP now owns 53,718 shares of the company’s stock valued at $46,000 after purchasing an additional 18,949 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Applied Therapeutics in the third quarter worth about $162,000. Nuveen Asset Management LLC boosted its stake in shares of Applied Therapeutics by 7.5% in the fourth quarter. Nuveen Asset Management LLC now owns 281,028 shares of the company’s stock worth $241,000 after buying an additional 19,608 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Applied Therapeutics by 169.0% in the fourth quarter. SG Americas Securities LLC now owns 40,747 shares of the company’s stock worth $35,000 after buying an additional 25,601 shares during the last quarter. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Trading Up 6.4 %

APLT opened at $0.55 on Thursday. Applied Therapeutics has a 12 month low of $0.43 and a 12 month high of $10.62. The stock has a fifty day moving average price of $0.59 and a 200-day moving average price of $4.14. The firm has a market cap of $63.58 million, a price-to-earnings ratio of -0.34 and a beta of 1.88.

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.