Applied Therapeutics, Inc. (NASDAQ:APLT) Given Average Rating of “Buy” by Analysts

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have been given a consensus recommendation of “Buy” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $11.25.

Several research firms have recently commented on APLT. William Blair started coverage on Applied Therapeutics in a report on Wednesday, July 31st. They set an “outperform” rating for the company. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 target price on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Finally, Citigroup boosted their price target on shares of Applied Therapeutics from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th.

Applied Therapeutics Stock Performance

NASDAQ APLT opened at $6.34 on Friday. The firm’s fifty day moving average is $5.46 and its two-hundred day moving average is $5.30. Applied Therapeutics has a one year low of $1.22 and a one year high of $9.39. The firm has a market cap of $724.45 million, a PE ratio of -3.45 and a beta of 1.99.

Applied Therapeutics (NASDAQ:APLT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.03). The company had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $10.00 million. Research analysts predict that Applied Therapeutics will post -0.59 earnings per share for the current year.

Insider Activity at Applied Therapeutics

In other Applied Therapeutics news, CFO Leslie D. Funtleyder sold 16,980 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.32, for a total value of $73,353.60. Following the completion of the transaction, the chief financial officer now directly owns 291,441 shares of the company’s stock, valued at $1,259,025.12. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder Real Estate Equitie Alexandria sold 150,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $4.21, for a total value of $631,500.00. Following the sale, the insider now directly owns 6,005,077 shares in the company, valued at approximately $25,281,374.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Leslie D. Funtleyder sold 16,980 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.32, for a total transaction of $73,353.60. Following the completion of the sale, the chief financial officer now directly owns 291,441 shares in the company, valued at $1,259,025.12. The disclosure for this sale can be found here. Insiders sold 670,369 shares of company stock worth $3,570,036 over the last 90 days. Company insiders own 8.60% of the company’s stock.

Institutional Trading of Applied Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its position in shares of Applied Therapeutics by 198.6% in the first quarter. Janus Henderson Group PLC now owns 6,414,642 shares of the company’s stock valued at $43,555,000 after acquiring an additional 4,266,179 shares in the last quarter. Vestal Point Capital LP acquired a new stake in shares of Applied Therapeutics during the 4th quarter worth about $13,919,000. StemPoint Capital LP grew its holdings in shares of Applied Therapeutics by 122.3% during the first quarter. StemPoint Capital LP now owns 2,017,016 shares of the company’s stock worth $13,716,000 after buying an additional 1,109,864 shares in the last quarter. Artal Group S.A. acquired a new position in shares of Applied Therapeutics in the first quarter valued at approximately $6,865,000. Finally, AIGH Capital Management LLC raised its position in shares of Applied Therapeutics by 109.1% in the fourth quarter. AIGH Capital Management LLC now owns 1,659,039 shares of the company’s stock valued at $5,558,000 after buying an additional 865,689 shares during the last quarter. Hedge funds and other institutional investors own 98.31% of the company’s stock.

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.