Brokerages Set Applied Therapeutics, Inc. (NASDAQ:APLT) Price Target at $6.60

Applied Therapeutics, Inc. (NASDAQ:APLT) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $6.60.

APLT has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a research note on Thursday, November 28th. UBS Group reiterated a “neutral” rating and set a $2.00 price target (down from $13.00) on shares of Applied Therapeutics in a research note on Monday. Royal Bank of Canada downgraded shares of Applied Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $12.00 to $4.00 in a report on Friday, November 29th. Finally, Leerink Partners upped their price target on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a report on Thursday, September 19th.

Applied Therapeutics Price Performance

Shares of APLT opened at $1.29 on Tuesday. Applied Therapeutics has a 1-year low of $1.20 and a 1-year high of $10.62. The stock has a market cap of $150.10 million, a PE ratio of -0.80 and a beta of 1.76. The firm has a fifty day moving average price of $8.18 and a 200 day moving average price of $6.36.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new position in shares of Applied Therapeutics in the 2nd quarter valued at about $54,000. Principal Financial Group Inc. acquired a new position in Applied Therapeutics during the 2nd quarter valued at about $54,000. SG Americas Securities LLC acquired a new position in Applied Therapeutics during the 2nd quarter valued at about $87,000. Algert Global LLC acquired a new position in Applied Therapeutics during the 2nd quarter valued at about $110,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Applied Therapeutics during the 3rd quarter valued at about $149,000. 98.31% of the stock is owned by institutional investors and hedge funds.

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.