Applied Therapeutics (NASDAQ:APLT) Trading 6.6% Higher – What’s Next?

Applied Therapeutics, Inc. (NASDAQ:APLT) shares were up 6.6% during mid-day trading on Tuesday . The company traded as high as $8.25 and last traded at $8.21. Approximately 181,008 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 1,843,001 shares. The stock had previously closed at $7.70.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on APLT shares. Citigroup raised their price target on Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, September 19th. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Royal Bank of Canada reiterated 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 raised their price target on Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $12.50.

Applied Therapeutics Price Performance

The business’s 50-day moving average price is $6.42 and its two-hundred day moving average price is $5.46. The company has a market capitalization of $931.28 million, a P/E ratio of -4.18 and a beta of 2.04.

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

Insider Buying and Selling

In other Applied Therapeutics news, CEO Shoshana Shendelman sold 119,591 shares of Applied Therapeutics stock in a transaction that occurred 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 transaction, the chief executive officer now owns 4,690,839 shares of the company’s stock, valued at approximately $27,816,675.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Applied Therapeutics

Large investors have recently added to or reduced their stakes in the company. Algert Global LLC bought a new position in shares of Applied Therapeutics during the second quarter worth about $110,000. Frazier Life Sciences Management L.P. raised its holdings in shares of Applied Therapeutics by 17.1% in the second quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock valued at $10,676,000 after purchasing an additional 333,278 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Applied Therapeutics in the second quarter valued at approximately $172,000. Sei Investments Co. acquired a new position in shares of Applied Therapeutics during the 2nd quarter worth approximately $535,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Applied Therapeutics during the 2nd quarter worth approximately $54,000. 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.