Applied Therapeutics (NASDAQ:APLT) Stock Price Up 7.1% – Still a Buy?

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) shot up 7.1% during trading on Wednesday . The company traded as high as $9.59 and last traded at $9.56. 299,637 shares changed hands during trading, a decline of 84% from the average session volume of 1,826,126 shares. The stock had previously closed at $8.93.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Leerink Partners upped their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Thursday, September 19th. Citigroup boosted their target price on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a research note 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $12.50.

Applied Therapeutics Price Performance

The stock has a 50 day moving average of $8.32 and a 200 day moving average of $6.25. The firm has a market cap of $1.09 billion, a P/E ratio of -5.93 and a beta of 2.01.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Victory Capital Management Inc. bought a new stake in Applied Therapeutics in the second quarter worth $54,000. Principal Financial Group Inc. bought a new stake in Applied Therapeutics during the 2nd quarter valued at $54,000. Y Intercept Hong Kong Ltd bought a new stake in Applied Therapeutics in the 3rd quarter worth $149,000. SG Americas Securities LLC purchased a new position in shares of Applied Therapeutics in the second quarter valued at about $87,000. Finally, Intech Investment Management LLC bought a new position in shares of Applied Therapeutics during the third quarter valued at about $162,000. 98.31% of the stock is owned by hedge funds and other institutional investors.

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.