Applied Therapeutics, Inc. (NASDAQ:APLT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $6.10.

Several equities research analysts have recently commented on the company. Royal Bank of Canada reduced their price objective on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a research note on Friday, December 20th. William Blair lowered shares of Applied Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, December 23rd. Citigroup decreased their price objective on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. UBS Group reaffirmed a “neutral” rating and issued a $2.00 target price (down previously from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Finally, Robert W. Baird lowered their price objective on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th.

Institutional Investors Weigh In On Applied Therapeutics

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC raised its position in Applied Therapeutics by 37.8% in the 3rd quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock worth $89,656,000 after purchasing an additional 2,893,323 shares during the period. State Street Corp increased its stake in Applied Therapeutics by 123.1% in the third quarter. State Street Corp now owns 3,694,607 shares of the company’s stock worth $31,404,000 after purchasing an additional 2,038,724 shares during the period. Frazier Life Sciences Management L.P. boosted its stake in shares of Applied Therapeutics by 17.1% during the second quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock valued at $10,676,000 after purchasing an additional 333,278 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Applied Therapeutics by 165.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock valued at $6,249,000 after purchasing an additional 457,940 shares during the period. Finally, Ally Bridge Group NY LLC bought a new position in shares of Applied Therapeutics in the third quarter worth about $5,256,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Stock Up 4.8 %

NASDAQ APLT opened at $0.64 on Wednesday. The company has a 50-day moving average price of $2.45 and a 200-day moving average price of $5.45. Applied Therapeutics has a 52 week low of $0.60 and a 52 week high of $10.62. The firm has a market capitalization of $74.34 million, a P/E ratio of -0.40 and a beta of 1.83.

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.