Shares of Applied Therapeutics, Inc. (NASDAQ:APLT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $6.60.
A number of research firms have weighed in on APLT. William Blair upgraded shares of Applied Therapeutics to a "strong-buy" rating in a research note on Friday, August 30th. Royal Bank of Canada downgraded shares of Applied Therapeutics from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $12.00 to $4.00 in a research report on Friday. 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. UBS Group reissued 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. Finally, Leerink Partners lifted their price objective on Applied Therapeutics from $11.00 to $14.00 and gave the stock an "outperform" rating in a report on Thursday, September 19th.
Get Our Latest Analysis on Applied Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of APLT. Barclays PLC lifted its position in Applied Therapeutics by 186.1% during the third quarter. Barclays PLC now owns 200,012 shares of the company's stock valued at $1,702,000 after purchasing an additional 130,102 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Applied Therapeutics during the 3rd quarter valued at about $149,000. XTX Topco Ltd bought a new position in shares of Applied Therapeutics in the 3rd quarter valued at about $531,000. Wellington Management Group LLP purchased a new position in Applied Therapeutics in the third quarter worth about $1,717,000. Finally, State Street Corp increased 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 acquiring an additional 2,038,724 shares during the last quarter. 98.31% of the stock is currently owned by institutional investors.
NASDAQ:APLT opened at $1.75 on Tuesday. The firm's 50-day moving average price is $8.59 and its 200-day moving average price is $6.45. The company has a market capitalization of $203.63 million, a PE ratio of -1.09 and a beta of 2.01. Applied Therapeutics has a 1-year low of $1.68 and a 1-year high of $10.62.
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.
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