Applied Therapeutics, Inc. (NASDAQ:APLT) Receives Consensus Rating of “Moderate Buy” from Brokerages

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

Several research firms recently weighed in on APLT. Robert W. Baird decreased their price objective on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. Citigroup decreased their price target 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. Leerink Partners upped their target price on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Thursday, September 19th. Royal Bank of Canada reduced their target price on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating on the stock in a research note on Friday, December 20th. Finally, UBS Group reaffirmed a “neutral” rating and set a $2.00 price target (down previously from $13.00) on shares of Applied Therapeutics in a research note on Monday, December 2nd.

Applied Therapeutics Stock Up 5.1 %

NASDAQ:APLT opened at $0.86 on Friday. The stock has a market cap of $99.62 million, a P/E ratio of -0.53 and a beta of 1.77. The business’s 50-day moving average price is $5.34 and its two-hundred day moving average price is $5.91. Applied Therapeutics has a twelve month low of $0.77 and a twelve month high of $10.62.

Hedge Funds Weigh In On Applied Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. bought a new stake in Applied Therapeutics in the 2nd quarter worth $54,000. Principal Financial Group Inc. purchased a new stake in shares of Applied Therapeutics during the second quarter worth about $54,000. Algert Global LLC bought a new stake in shares of Applied Therapeutics in the second quarter worth about $110,000. Y Intercept Hong Kong Ltd purchased a new position in Applied Therapeutics during the 3rd quarter valued at about $149,000. Finally, Intech Investment Management LLC purchased a new position in Applied Therapeutics during the 3rd quarter valued at about $162,000. 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.