Applied Therapeutics (NASDAQ:APLT) Price Target Lowered to $5.00 at Robert W. Baird

Applied Therapeutics (NASDAQ:APLT) had its price objective cut by equities research analysts at Robert W. Baird from $14.00 to $5.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential downside of 41.66% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Leerink Partners lifted their price objective on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Citigroup upped their price objective on shares of Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada cut shares of Applied Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $12.00 to $4.00 in a research report on Friday. Finally, William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Applied Therapeutics currently has an average rating of “Buy” and a consensus price target of $9.40.

Applied Therapeutics Stock Down 16.1 %

Shares of Applied Therapeutics stock traded down $1.64 on Friday, hitting $8.57. The stock had a trading volume of 15,333,985 shares, compared to its average volume of 2,687,166. The stock has a market cap of $997.21 million, a price-to-earnings ratio of -5.32 and a beta of 2.01. Applied Therapeutics has a twelve month low of $1.82 and a twelve month high of $10.62. The business’s 50 day moving average is $8.82 and its two-hundred day moving average is $6.45.

Hedge Funds Weigh In On Applied Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Ally Bridge Group NY LLC acquired a new stake in Applied Therapeutics in the third quarter valued at approximately $5,256,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Applied Therapeutics by 34.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 265,372 shares of the company’s stock valued at $2,256,000 after acquiring an additional 68,330 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Applied Therapeutics during the 2nd quarter valued at $1,325,000. Frazier Life Sciences Management L.P. grew its position in Applied Therapeutics by 17.1% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after acquiring an additional 333,278 shares during the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in Applied Therapeutics in the 2nd quarter worth about $3,414,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

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.