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

Shares of Applied Therapeutics, Inc. (NASDAQ:APLT) have been assigned an average rating of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $12.50.

A number of analysts have commented on the stock. Leerink Partners upped their price objective on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. Citigroup upped their price target on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $12.00 target price on shares of Applied Therapeutics in a research note on Wednesday, July 17th.

Insiders Place Their Bets

In other news, CEO Shoshana Shendelman sold 119,591 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total transaction of $709,174.63. Following the transaction, the chief executive officer now directly owns 4,690,839 shares in the company, valued at $27,816,675.27. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Applied Therapeutics

Large investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in 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 during the last quarter. Propel Bio Management LLC raised its holdings in shares of Applied Therapeutics by 13.7% during the 1st quarter. Propel Bio Management LLC now owns 6,111,906 shares of the company’s stock valued at $41,561,000 after purchasing an additional 736,924 shares in the last quarter. Knoll Capital Management LLC lifted its stake in shares of Applied Therapeutics by 1.8% in the 1st quarter. Knoll Capital Management LLC now owns 5,574,687 shares of the company’s stock valued at $37,908,000 after purchasing an additional 100,000 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in Applied Therapeutics by 17.1% in the second quarter. Frazier Life Sciences Management L.P. now owns 2,286,135 shares of the company’s stock worth $10,676,000 after purchasing an additional 333,278 shares in the last quarter. Finally, StemPoint Capital LP increased its position in 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 during the last quarter. Institutional investors own 98.31% of the company’s stock.

Applied Therapeutics Stock Performance

Applied Therapeutics stock opened at $8.96 on Monday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -4.87 and a beta of 2.04. Applied Therapeutics has a 1 year low of $1.79 and a 1 year high of $9.39. The firm’s 50 day moving average price is $6.90 and its two-hundred day moving average price is $5.59.

Applied Therapeutics (NASDAQ:APLT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The company had revenue of $0.14 million during the quarter, compared to analyst estimates of $10.00 million. As a group, equities analysts predict that Applied Therapeutics will post -0.48 EPS for the current fiscal year.

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.