Applied Therapeutics (NASDAQ:APLT) Price Target Lowered to $1.50 at Royal Bank of Canada

Applied Therapeutics (NASDAQ:APLT) had its target price trimmed by Royal Bank of Canada from $4.00 to $1.50 in a research note released on Friday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

APLT has been the subject of a number of other reports. Citigroup lowered their price target on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a report on Friday, November 29th. UBS Group reissued a “neutral” rating and issued a $2.00 price target (down previously from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Leerink Partners upped their target price on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Robert W. Baird decreased their price target on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. Finally, William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a report on Thursday, November 28th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.10.

Applied Therapeutics Stock Performance

Shares of NASDAQ:APLT opened at $0.88 on Friday. The business’s 50-day simple moving average is $6.63 and its 200 day simple moving average is $6.12. The company has a market cap of $102.40 million, a P/E ratio of -0.55 and a beta of 1.76. Applied Therapeutics has a one year low of $0.84 and a one year high of $10.62.

Hedge Funds Weigh In On Applied Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its holdings in shares of Applied Therapeutics by 37.8% in the third quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock valued at $89,656,000 after buying an additional 2,893,323 shares in the last quarter. State Street Corp grew its holdings in shares of Applied Therapeutics by 123.1% during the 3rd quarter. State Street Corp now owns 3,694,607 shares of the company’s stock valued at $31,404,000 after acquiring an additional 2,038,724 shares in the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of Applied Therapeutics during the 2nd quarter worth about $3,414,000. Ally Bridge Group NY LLC bought a new position in Applied Therapeutics during the third quarter valued at approximately $5,256,000. Finally, Charles Schwab Investment Management Inc. raised its position in Applied Therapeutics by 165.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock valued at $6,249,000 after acquiring an additional 457,940 shares in the last quarter. Institutional investors 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.