Applied Therapeutics, Inc. (NASDAQ:APLT) Receives $11.25 Average Price Target from Analysts

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have earned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $12.50.

Several research firms have commented on APLT. Citigroup increased their target price 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. William Blair raised Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Leerink Partners boosted their target price on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price target on shares of Applied Therapeutics in a report on Wednesday, July 17th.

Applied Therapeutics Price Performance

Shares of Applied Therapeutics stock opened at $8.38 on Thursday. The stock has a 50-day simple moving average of $5.94 and a 200-day simple moving average of $5.36. Applied Therapeutics has a 52-week low of $1.79 and a 52-week high of $9.39. The firm has a market cap of $962.44 million, a price-to-earnings ratio of -4.55 and a beta of 2.03.

Applied Therapeutics (NASDAQ:APLT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The business had revenue of $0.14 million for the quarter, compared to the consensus estimate of $10.00 million. As a group, equities research analysts predict that Applied Therapeutics will post -0.48 earnings per share for the current year.

Insider Activity at Applied Therapeutics

In related news, CEO Shoshana Shendelman sold 119,591 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $5.93, for a total transaction of $709,174.63. Following the transaction, the chief executive officer now directly owns 4,690,839 shares in the company, valued at $27,816,675.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Applied Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in Applied Therapeutics by 198.6% during the first quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock worth $43,555,000 after buying an additional 4,266,179 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Applied Therapeutics during the 4th quarter valued at about $13,919,000. StemPoint Capital LP increased its stake in Applied Therapeutics by 122.3% in the first quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock valued at $13,716,000 after acquiring an additional 1,109,864 shares during the period. Artal Group S.A. acquired a new position in Applied Therapeutics in the first quarter worth about $6,865,000. Finally, AIGH Capital Management LLC lifted its stake in Applied Therapeutics by 109.1% during the fourth quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock worth $5,558,000 after purchasing an additional 865,689 shares during the period. 98.31% of the stock is currently 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.