Applied Therapeutics (NASDAQ:APLT) Lowered to “Market Perform” Rating by William Blair

William Blair downgraded shares of Applied Therapeutics (NASDAQ:APLT) from an outperform rating to a market perform rating in a report released on Monday, Marketbeat reports.

A number of other research analysts have also issued reports on the stock. UBS Group reiterated a “neutral” rating and issued a $2.00 target price (down from $13.00) on shares of Applied Therapeutics in a research note on Monday, December 2nd. Robert W. Baird cut their price objective 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. Leerink Partners increased their target price on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Royal Bank of Canada dropped their price target on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating on the stock in a research report on Friday, December 20th. Finally, Citigroup reduced their price objective on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Applied Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $6.10.

Applied Therapeutics Stock Down 1.7 %

Shares of APLT stock opened at $0.85 on Monday. Applied Therapeutics has a 12 month low of $0.78 and a 12 month high of $10.62. The company has a market cap of $99.09 million, a PE ratio of -0.53 and a beta of 1.77. The business’s 50 day moving average is $6.30 and its two-hundred day moving average is $6.10.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in shares of Applied Therapeutics by 37.8% during the 3rd quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock worth $89,656,000 after acquiring an additional 2,893,323 shares during the period. State Street Corp lifted its stake in Applied Therapeutics by 123.1% during 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 holdings in 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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 in the last quarter. Finally, Peregrine Capital Management LLC bought a new stake in shares of Applied Therapeutics in the 2nd quarter valued at approximately $3,414,000. 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.