Applied Therapeutics (NASDAQ:APLT) Price Target Raised to $14.00

Applied Therapeutics (NASDAQ:APLT) had its price objective lifted by Leerink Partners from $11.00 to $14.00 in a research report report published on Thursday, Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

Several other analysts have also recently commented on APLT. Citigroup increased their target price on Applied Therapeutics from $7.00 to $8.00 and gave the stock a buy rating in a report on Tuesday, August 27th. Royal Bank of Canada reiterated an outperform rating and set a $12.00 price target on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Finally, William Blair upgraded shares of Applied Therapeutics to a strong-buy rating in a research report on Friday, August 30th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Applied Therapeutics has an average rating of Buy and a consensus target price of $12.50.

Applied Therapeutics Stock Down 3.8 %

NASDAQ:APLT opened at $7.70 on Thursday. The firm has a market cap of $879.86 million, a PE ratio of -4.18 and a beta of 2.03. Applied Therapeutics has a 12 month low of $1.79 and a 12 month high of $9.39. The company’s 50-day moving average price is $5.81 and its two-hundred day moving average price is $5.32.

Applied Therapeutics (NASDAQ:APLT) last announced 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 firm had revenue of $0.14 million during the quarter, compared to analyst estimates of $10.00 million. On average, research analysts expect that Applied Therapeutics will post -0.48 EPS for the current fiscal year.

Insider Activity

In related news, CEO Shoshana Shendelman sold 300,000 shares of Applied Therapeutics stock in a transaction dated Monday, August 12th. The stock was 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 directly owns 5,167,853 shares in the company, valued at $30,903,760.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.60% of the stock is currently owned by insiders.

Institutional Trading of Applied Therapeutics

Institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its position in shares of Applied Therapeutics by 198.6% in the 1st quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock worth $43,555,000 after purchasing an additional 4,266,179 shares during the last quarter. Vestal Point Capital LP acquired a new position in shares of Applied Therapeutics during the 4th quarter worth about $13,919,000. StemPoint Capital LP increased its stake in shares of Applied Therapeutics by 122.3% in the 1st 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 last quarter. Artal Group S.A. acquired a new stake in shares of Applied Therapeutics in the 1st quarter valued at approximately $6,865,000. Finally, AIGH Capital Management LLC raised its position in shares of Applied Therapeutics by 109.1% in the 4th quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock valued at $5,558,000 after acquiring an additional 865,689 shares during the period. Institutional investors and hedge funds own 98.31% of the company’s stock.

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.