Applied Therapeutics (NASDAQ:APLT) Shares Up 6.4% – Should You Buy?

Applied Therapeutics, Inc. (NASDAQ:APLT)’s stock price shot up 6.4% during trading on Monday . The company traded as high as $9.24 and last traded at $9.12. 1,287,402 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 1,843,190 shares. The stock had previously closed at $8.57.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on APLT. William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Citigroup lifted their price objective on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Royal Bank of Canada restated an “outperform” rating and set a $12.00 target price on shares of Applied Therapeutics in a research report on Wednesday, July 17th. Finally, Leerink Partners lifted their target price on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $12.50.

Applied Therapeutics Price Performance

The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -4.78 and a beta of 2.04. The firm’s fifty day moving average price is $6.75 and its two-hundred day moving average price is $5.53.

Applied Therapeutics (NASDAQ:APLT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The company had revenue of $0.14 million during the quarter, compared to analyst estimates of $10.00 million. On average, equities research analysts anticipate that Applied Therapeutics, Inc. will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Shoshana Shendelman sold 119,591 shares of Applied Therapeutics stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total value of $709,174.63. Following the completion of the sale, the chief executive officer now owns 4,690,839 shares of the company’s stock, valued at approximately $27,816,675.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Applied Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC lifted its holdings in shares of Applied Therapeutics by 198.6% in the first quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock valued at $43,555,000 after purchasing an additional 4,266,179 shares in the last quarter. Propel Bio Management LLC lifted its stake in Applied Therapeutics by 13.7% during the 1st quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company’s stock valued at $41,561,000 after acquiring an additional 736,924 shares in the last quarter. Knoll Capital Management LLC lifted its stake in Applied Therapeutics by 1.8% during the 1st quarter. Knoll Capital Management LLC now owns 5,574,687 shares of the company’s stock valued at $37,908,000 after acquiring an additional 100,000 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in Applied Therapeutics by 17.1% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after acquiring an additional 333,278 shares during the last quarter. Finally, StemPoint Capital LP grew 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 worth $13,716,000 after acquiring an additional 1,109,864 shares in the last quarter. Institutional investors and hedge funds own 98.31% of the company’s stock.

Applied Therapeutics Company Profile

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.