Applied Therapeutics (NASDAQ:APLT) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Applied Therapeutics (NASDAQ:APLT) from a hold rating to a sell rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Applied Therapeutics Inc. is a clinical-stage biopharmaceutical company. It engages in developing drug candidates for unmet medical need. The company’s product candidate consists of AT-001, for the treatment of Diabetic Cardiomyopathy; AT-007, for the treatment of Galactosemia and AT-003, for the treatment of diabetic retinopathy which are in clinical stage. Applied Therapeutics Inc. is based in New York, United States. “

NASDAQ:APLT traded down $0.18 during mid-day trading on Wednesday, hitting $20.75. 1,118 shares of the stock traded hands, compared to its average volume of 57,028. Applied Therapeutics has a 52 week low of $7.95 and a 52 week high of $26.51. The firm’s 50 day moving average is $17.12 and its two-hundred day moving average is $11.49.

Applied Therapeutics (NASDAQ:APLT) last announced its quarterly earnings data on Wednesday, November 13th. The company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.14). As a group, equities analysts forecast that Applied Therapeutics will post -3.08 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of APLT. California State Teachers Retirement System bought a new stake in shares of Applied Therapeutics in the third quarter valued at about $35,000. Northern Trust Corp purchased a new position in Applied Therapeutics in the second quarter valued at about $59,000. Emerald Advisers LLC purchased a new position in Applied Therapeutics in the third quarter valued at about $111,000. State Street Corp purchased a new position in Applied Therapeutics in the third quarter valued at about $119,000. Finally, Bank of New York Mellon Corp purchased a new position in Applied Therapeutics in the second quarter valued at about $172,000. 13.99% of the stock is currently owned by institutional investors and hedge funds.

About Applied Therapeutics

Applied Therapeutics, Inc, a biopharmaceutical company, develops novel products to target cardiovascular disease, galactosemia, and diabetic complications. Its lead product candidate is AT-001 that is in phase II clinical trials for treating diabetic cardiomyopathy, as well as is in phase I clinical trials to treat diabetic peripheral neuropathy.

Read More: What does an outperform rating mean?

Get a free copy of the Zacks research report on Applied Therapeutics (APLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Applied Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.