Brokerages Set Applied Therapeutics, Inc. (NASDAQ:APLT) Price Target at $11.25

Applied Therapeutics, Inc. (NASDAQ:APLT) has earned an average rating of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $12.50.

Several research firms have recently commented on APLT. Leerink Partners lifted their price target on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, September 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 target price on shares of Applied Therapeutics in a report on Wednesday, July 17th. Citigroup raised their price target on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th.

Insider Buying and Selling

In related news, CEO Shoshana Shendelman sold 300,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $5.98, for a total value of $1,794,000.00. Following the completion of the sale, the chief executive officer now owns 5,167,853 shares in the company, valued at approximately $30,903,760.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLT. Principal Financial Group Inc. acquired a new position in Applied Therapeutics in the 2nd quarter worth about $54,000. Victory Capital Management Inc. bought a new position in Applied Therapeutics during the second quarter valued at approximately $54,000. Jump Financial LLC bought a new position in Applied Therapeutics during the fourth quarter valued at approximately $81,000. SG Americas Securities LLC acquired a new stake in Applied Therapeutics in the second quarter valued at approximately $87,000. Finally, Algert Global LLC bought a new stake in Applied Therapeutics in the second quarter worth approximately $110,000. 98.31% of the stock is owned by hedge funds and other institutional investors.

Applied Therapeutics Stock Down 0.3 %

APLT stock opened at $7.68 on Thursday. The stock’s 50 day moving average is $5.84 and its two-hundred day moving average is $5.33. Applied Therapeutics has a 52-week low of $1.79 and a 52-week high of $9.39. The company has a market capitalization of $877.57 million, a PE ratio of -4.17 and a beta of 2.03.

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

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.