Applied Therapeutics’ (APLT) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Applied Therapeutics (NASDAQ:APLT)‘s stock had its “sector perform” rating reiterated by analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They presently have a $1.50 price target on the stock. Royal Bank of Canada’s price target indicates a potential upside of 205.56% from the stock’s previous close.

Applied Therapeutics Trading Up 1.2%

Shares of NASDAQ:APLT opened at $0.49 on Wednesday. The business has a 50-day moving average price of $0.43 and a 200 day moving average price of $2.02. The company has a market capitalization of $69.50 million, a price-to-earnings ratio of -0.30 and a beta of 2.00. Applied Therapeutics has a 12-month low of $0.30 and a 12-month high of $10.62.

Applied Therapeutics (NASDAQ:APLT) last issued its quarterly earnings data on Monday, April 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.06). The company had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $0.61 million. As a group, equities research analysts predict that Applied Therapeutics will post -0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Propel Bio Management LLC grew its holdings in shares of Applied Therapeutics by 17.4% in the first quarter. Propel Bio Management LLC now owns 11,285,420 shares of the company’s stock valued at $5,517,000 after purchasing an additional 1,670,000 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Applied Therapeutics by 132.2% in the first quarter. CreativeOne Wealth LLC now owns 50,413 shares of the company’s stock valued at $25,000 after purchasing an additional 28,701 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Applied Therapeutics by 91.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 10,380,590 shares of the company’s stock valued at $5,076,000 after purchasing an additional 4,959,670 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Applied Therapeutics in the first quarter valued at approximately $59,000. Finally, Nuveen LLC acquired a new position in shares of Applied Therapeutics in the first quarter valued at approximately $137,000. 98.31% of the stock is currently 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.