Applied Therapeutics (NASDAQ:APLT) Price Target Lowered to $8.00 at Citigroup

Applied Therapeutics (NASDAQ:APLT) had its price target trimmed by Citigroup from $13.00 to $8.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Robert W. Baird decreased their price target on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday. Royal Bank of Canada cut Applied Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $12.00 to $4.00 in a research note on Friday. Leerink Partners raised their price objective on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, September 19th. Finally, William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.80.

Applied Therapeutics Price Performance

APLT opened at $2.03 on Friday. The business has a fifty day simple moving average of $8.71 and a 200 day simple moving average of $6.44. Applied Therapeutics has a 1 year low of $1.85 and a 1 year high of $10.62. The company has a market capitalization of $236.21 million, a PE ratio of -1.26 and a beta of 2.01.

Institutional Investors Weigh In On Applied Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in APLT. Victory Capital Management Inc. acquired a new stake in Applied Therapeutics in the second quarter valued at approximately $54,000. Principal Financial Group Inc. bought a new stake in Applied Therapeutics during the 2nd quarter worth $54,000. Y Intercept Hong Kong Ltd acquired a new position in Applied Therapeutics in the 3rd quarter worth about $149,000. SG Americas Securities LLC acquired a new stake in shares of Applied Therapeutics during the second quarter valued at about $87,000. Finally, Intech Investment Management LLC bought a new stake in shares of Applied Therapeutics during the third quarter worth about $162,000. 98.31% of the stock is 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.