Royal Bank of Canada Cuts Applied Therapeutics (NASDAQ:APLT) Price Target to $1.50

Applied Therapeutics (NASDAQ:APLT) had its price objective reduced by Royal Bank of Canada from $4.00 to $1.50 in a research note released on Friday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

A number of other equities analysts have also commented on the stock. UBS Group reaffirmed a “neutral” rating and set a $2.00 price target (down from $13.00) on shares of Applied Therapeutics in a research report on Monday, December 2nd. Robert W. Baird dropped their price target 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. Leerink Partners increased 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. William Blair raised Applied Therapeutics to a “strong-buy” rating in a report on Thursday, November 28th. Finally, Citigroup reduced their target price on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.10.

Applied Therapeutics Price Performance

APLT stock opened at $0.88 on Friday. Applied Therapeutics has a fifty-two week low of $0.84 and a fifty-two week high of $10.62. The stock has a market capitalization of $102.40 million, a price-to-earnings ratio of -0.55 and a beta of 1.76. The business’s fifty day moving average price is $6.63 and its two-hundred day moving average price is $6.15.

Hedge Funds Weigh In On Applied Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of APLT. Principal Financial Group Inc. bought a new stake in shares of Applied Therapeutics during the 2nd quarter worth $54,000. Victory Capital Management Inc. acquired a new position in Applied Therapeutics during the second quarter worth about $54,000. SG Americas Securities LLC acquired a new position in Applied Therapeutics during the second quarter worth about $87,000. Algert Global LLC bought a new position in shares of Applied Therapeutics in the second quarter worth about $110,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Applied Therapeutics in the 3rd quarter valued at approximately $149,000. 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.