Applied Therapeutics, Inc. (NASDAQ:APLT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $6.10.

APLT has been the subject of a number of recent research reports. Royal Bank of Canada reduced their target price on shares of Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a research report on Friday, December 20th. UBS Group reissued a “neutral” rating and set a $2.00 price target (down previously from $13.00) on shares of Applied Therapeutics in a research report on Monday, December 2nd. Robert W. Baird cut their price objective on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. Citigroup decreased their target price on shares of Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Finally, William Blair lowered shares of Applied Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, December 23rd.

Institutional Investors Weigh In On Applied Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. acquired a new stake in Applied Therapeutics during the 2nd quarter worth approximately $54,000. Y Intercept Hong Kong Ltd acquired a new stake in Applied Therapeutics in the 3rd quarter valued at about $149,000. Intech Investment Management LLC purchased a new stake in Applied Therapeutics during the 3rd quarter worth about $162,000. Algert Global LLC purchased a new stake in Applied Therapeutics in the second quarter valued at approximately $110,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Applied Therapeutics in the 2nd quarter worth $172,000. Hedge funds and other institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Price Performance

Shares of NASDAQ:APLT opened at $0.66 on Wednesday. The firm has a market capitalization of $76.24 million, a price-to-earnings ratio of -0.41 and a beta of 1.83. The business’s 50 day moving average price is $3.13 and its 200-day moving average price is $5.57. Applied Therapeutics has a 1 year low of $0.60 and a 1 year high of $10.62.

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.