Applied Therapeutics, Inc. (NASDAQ:APLT) Given Consensus Rating of “Moderate Buy” by Analysts

Applied Therapeutics, Inc. (NASDAQ:APLT) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $6.10.

APLT has been the topic of several recent research reports. William Blair lowered Applied Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, December 23rd. Citigroup reduced their price target on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Royal Bank of Canada lowered their price objective on shares of Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating on the stock in a report on Friday, December 20th. UBS Group reissued a “neutral” rating and set a $2.00 target price (down from $13.00) on shares of Applied Therapeutics in a research report on Monday, December 2nd. Finally, Robert W. Baird dropped their price target on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th.

Hedge Funds Weigh In On Applied Therapeutics

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of 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 during the last quarter. Janus Henderson Group PLC grew its position in Applied Therapeutics by 37.8% during 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 during the period. State Street Corp increased its holdings in Applied Therapeutics by 123.1% during the third quarter. State Street Corp now owns 3,694,607 shares of the company’s stock worth $31,404,000 after buying an additional 2,038,724 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Applied Therapeutics by 236.0% in the third quarter. The Manufacturers Life Insurance Company now owns 123,725 shares of the company’s stock worth $1,052,000 after acquiring an additional 86,901 shares during the period. Finally, Ally Bridge Group NY LLC purchased a new position in Applied Therapeutics in the third quarter valued at about $5,256,000. Institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Price Performance

APLT stock opened at $0.94 on Friday. The company’s 50-day moving average is $5.03 and its 200-day moving average is $5.85. The stock has a market capitalization of $109.81 million, a PE ratio of -0.59 and a beta of 1.77. Applied Therapeutics has a 1 year low of $0.77 and a 1 year high of $10.62.

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.