Applied Therapeutics, Inc. (NASDAQ:APLT) Receives $6.10 Consensus Target Price from Analysts

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.10.

A number of equities analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a report on Friday, December 20th. William Blair downgraded Applied Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, December 23rd. Citigroup decreased their price objective on 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 objective (down from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Finally, Robert W. Baird decreased their price objective on Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a report on Friday, November 29th.

Institutional Investors Weigh In On Applied Therapeutics

Several hedge funds have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of Applied Therapeutics during the third quarter worth $149,000. Dark Forest Capital Management LP raised its position in Applied Therapeutics by 54.5% in the fourth quarter. Dark Forest Capital Management LP now owns 53,718 shares of the company’s stock worth $46,000 after acquiring an additional 18,949 shares in the last quarter. Intech Investment Management LLC purchased a new position in Applied Therapeutics in the third quarter worth $162,000. Nuveen Asset Management LLC raised its position in Applied Therapeutics by 7.5% in the fourth quarter. Nuveen Asset Management LLC now owns 281,028 shares of the company’s stock worth $241,000 after acquiring an additional 19,608 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Applied Therapeutics by 169.0% in the fourth quarter. SG Americas Securities LLC now owns 40,747 shares of the company’s stock valued at $35,000 after buying an additional 25,601 shares in the last quarter. 98.31% of the stock is owned by institutional investors and hedge funds.

Applied Therapeutics Stock Down 6.2 %

Shares of APLT opened at $0.53 on Friday. The stock has a 50 day moving average price of $0.72 and a 200 day moving average price of $4.78. The company has a market capitalization of $61.67 million, a price-to-earnings ratio of -0.33 and a beta of 1.88. Applied Therapeutics has a 52-week low of $0.53 and a 52-week 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.