Robert W. Baird Issues Pessimistic Forecast for Applied Therapeutics (NASDAQ:APLT) Stock Price

Applied Therapeutics (NASDAQ:APLT) had its target price decreased by analysts at Robert W. Baird from $14.00 to $5.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 146.31% from the company’s previous close.

A number of other brokerages have also recently issued reports on APLT. William Blair upgraded Applied Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Citigroup lifted their target price on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Leerink Partners boosted their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada lowered shares of Applied Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $12.00 to $4.00 in a research report on Friday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $8.80.

Applied Therapeutics Stock Performance

Shares of APLT stock opened at $2.03 on Friday. Applied Therapeutics has a 52 week low of $1.85 and a 52 week high of $10.62. The company has a market capitalization of $236.20 million, a price-to-earnings ratio of -1.26 and a beta of 2.01. The company has a 50-day simple moving average of $8.71 and a 200 day simple moving average of $6.45.

Institutional Trading of Applied Therapeutics

A number of institutional investors have recently modified their holdings of APLT. Janus Henderson Group PLC lifted its holdings in shares of Applied Therapeutics by 37.8% during the 3rd quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock worth $89,656,000 after acquiring an additional 2,893,323 shares during the period. State Street Corp raised its position in Applied Therapeutics by 123.1% during the third quarter. State Street Corp now owns 3,694,607 shares of the company’s stock valued at $31,404,000 after purchasing an additional 2,038,724 shares in the last quarter. Peregrine Capital Management LLC bought a new stake in Applied Therapeutics during the second quarter worth $3,414,000. Ally Bridge Group NY LLC acquired a new stake in shares of Applied Therapeutics in the 3rd quarter valued at $5,256,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Applied Therapeutics by 165.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock valued at $6,249,000 after purchasing an additional 457,940 shares during the last quarter. 98.31% of the stock is currently owned by institutional investors.

Applied Therapeutics Company Profile

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.