Applied Therapeutics, Inc. (NASDAQ:APLT) Receives $11.00 Consensus Target Price from Analysts

Applied Therapeutics, Inc. (NASDAQ:APLT) has earned a consensus rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $11.00.

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 price target on shares of Applied Therapeutics in a report on Wednesday, July 17th. William Blair started coverage on shares of Applied Therapeutics in a report on Wednesday, July 31st. They set an “outperform” rating for the company.

Insider Buying and Selling at Applied Therapeutics

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 61,795 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.32, for a total transaction of $266,954.40. Following the completion of the transaction, the chief executive officer now directly owns 3,756,019 shares in the company, valued at approximately $16,226,002.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Applied Therapeutics news, CEO Shoshana Shendelman sold 61,795 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.32, for a total transaction of $266,954.40. Following the sale, the chief executive officer now directly owns 3,756,019 shares of the company’s stock, valued at approximately $16,226,002.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Leslie D. Funtleyder sold 16,980 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $4.32, for a total transaction of $73,353.60. Following the sale, the chief financial officer now directly owns 291,441 shares in the company, valued at $1,259,025.12. The disclosure for this sale can be found here. In the last three months, insiders sold 250,778 shares of company stock worth $1,066,861. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Applied Therapeutics

Several hedge funds have recently modified their holdings of the company. Vontobel Holding Ltd. acquired a new stake in shares of Applied Therapeutics in the fourth quarter worth approximately $34,000. Jump Financial LLC acquired a new stake in shares of Applied Therapeutics in the fourth quarter worth approximately $81,000. Worth Venture Partners LLC boosted its position in shares of Applied Therapeutics by 112.9% in the fourth quarter. Worth Venture Partners LLC now owns 412,981 shares of the company’s stock worth $1,383,000 after acquiring an additional 219,008 shares during the last quarter. AIGH Capital Management LLC boosted its position in shares of Applied Therapeutics by 109.1% in the fourth quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock worth $5,558,000 after acquiring an additional 865,689 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new stake in shares of Applied Therapeutics in the fourth quarter worth approximately $13,919,000. 98.31% of the stock is owned by institutional investors and hedge funds.

Applied Therapeutics Stock Up 1.5 %

Shares of APLT opened at $6.10 on Wednesday. The company has a 50-day simple moving average of $4.92 and a 200-day simple moving average of $4.90. The company has a market capitalization of $697.05 million, a PE ratio of -3.32 and a beta of 1.99. Applied Therapeutics has a 52-week low of $1.18 and a 52-week high of $9.39.

Applied Therapeutics (NASDAQ:APLT) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.09). The firm had revenue of $0.19 million for the quarter, compared to analyst estimates of $10.00 million. On average, research analysts anticipate that Applied Therapeutics will post -0.59 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.