Analysts Set Applied Therapeutics, Inc. (NASDAQ:APLT) Price Target at $12.50

Applied Therapeutics, Inc. (NASDAQ:APLT) has been given an average rating of “Buy” by the six research firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $12.50.

Several equities analysts have commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price target on shares of Applied Therapeutics in a report on Wednesday, July 17th. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Leerink Partners lifted 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. Finally, Citigroup upped their price target on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, September 19th.

Applied Therapeutics Trading Down 3.8 %

APLT stock opened at $8.80 on Monday. The firm has a market cap of $1.00 billion, a PE ratio of -4.78 and a beta of 2.04. Applied Therapeutics has a 1 year low of $1.79 and a 1 year high of $9.39. The company has a fifty day simple moving average of $6.80 and a 200 day simple moving average of $5.56.

Applied Therapeutics (NASDAQ:APLT) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The firm had revenue of $0.14 million during the quarter, compared to the consensus estimate of $10.00 million. As a group, analysts forecast that Applied Therapeutics will post -0.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Shoshana Shendelman sold 119,591 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total transaction of $709,174.63. Following the completion of the transaction, the chief executive officer now owns 4,690,839 shares of the company’s stock, valued at approximately $27,816,675.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Victory Capital Management Inc. bought a new stake in Applied Therapeutics in the 2nd quarter valued at $54,000. Principal Financial Group Inc. bought a new position in Applied Therapeutics during the second quarter worth about $54,000. SG Americas Securities LLC acquired a new stake in Applied Therapeutics during the second quarter valued at approximately $87,000. Algert Global LLC acquired a new position in shares of Applied Therapeutics in the 2nd quarter worth approximately $110,000. Finally, Denali Advisors LLC acquired a new position in shares of Applied Therapeutics in the 1st quarter worth approximately $228,000. 98.31% of the stock is currently owned by institutional investors and hedge funds.

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.