Applied Therapeutics, Inc. (NASDAQ:APLT) Receives $6.10 Average Price Target from Brokerages

Applied Therapeutics, Inc. (NASDAQ:APLT) has been given an average recommendation of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.10.

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

Applied Therapeutics Stock Up 6.4 %

APLT opened at $0.55 on Thursday. The business has a fifty day moving average of $0.59 and a 200 day moving average of $4.14. Applied Therapeutics has a 52-week low of $0.43 and a 52-week high of $10.62. The stock has a market cap of $63.58 million, a P/E ratio of -0.34 and a beta of 1.88.

Institutional Investors Weigh In On Applied Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of APLT. Intech Investment Management LLC bought a new position in shares of Applied Therapeutics in the 3rd quarter worth $162,000. Charles Schwab Investment Management Inc. raised its position in shares of Applied Therapeutics by 165.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock worth $6,249,000 after acquiring an additional 457,940 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Applied Therapeutics by 236.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 123,725 shares of the company’s stock worth $1,052,000 after acquiring an additional 86,901 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Applied Therapeutics by 1,855.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 135,272 shares of the company’s stock worth $1,150,000 after acquiring an additional 128,353 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Applied Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 56,302 shares of the company’s stock worth $479,000 after acquiring an additional 31,724 shares in the last quarter. 98.31% of the stock is owned by institutional investors.

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.