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

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $6.10.

APLT has been the topic of a number of research reports. William Blair lowered shares of Applied Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, December 23rd. 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 on the stock in a research report on Friday, December 20th. Robert W. Baird cut their price objective on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. UBS Group reissued a “neutral” rating and set a $2.00 price objective (down from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Finally, Citigroup cut their price objective 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.

Hedge Funds Weigh In On Applied Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vestal Point Capital LP grew its holdings in Applied Therapeutics by 904.4% in the fourth quarter. Vestal Point Capital LP now owns 11,500,000 shares of the company’s stock worth $9,846,000 after purchasing an additional 10,355,000 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Applied Therapeutics by 37.8% during the third quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock worth $89,656,000 after buying an additional 2,893,323 shares during the period. VR Adviser LLC lifted its stake in shares of Applied Therapeutics by 1.7% during the fourth quarter. VR Adviser LLC now owns 9,990,591 shares of the company’s stock worth $8,554,000 after buying an additional 165,591 shares during the period. Propel Bio Management LLC lifted its stake in shares of Applied Therapeutics by 46.4% during the fourth quarter. Propel Bio Management LLC now owns 9,615,420 shares of the company’s stock worth $8,233,000 after buying an additional 3,047,562 shares during the period. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of Applied Therapeutics by 2,458.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 8,762,291 shares of the company’s stock worth $7,502,000 after buying an additional 8,419,781 shares during the period. 98.31% of the stock is owned by hedge funds and other institutional investors.

Applied Therapeutics Stock Performance

Shares of NASDAQ:APLT opened at $0.52 on Thursday. The firm has a market cap of $60.51 million, a PE ratio of -0.32 and a beta of 1.88. The firm’s 50 day simple moving average is $0.61 and its 200-day simple moving average is $4.27. Applied Therapeutics has a one year low of $0.43 and a one year high of $10.62.

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.