Applied Therapeutics (NASDAQ:APLT) Hits New 12-Month High – Time to Buy?

Applied Therapeutics, Inc. (NASDAQ:APLT)’s stock price reached a new 52-week high on Monday . The stock traded as high as $10.20 and last traded at $10.20, with a volume of 5947 shares changing hands. The stock had previously closed at $10.09.

Analyst Ratings Changes

Several brokerages have recently commented on APLT. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price objective on shares of Applied Therapeutics in a report on Wednesday, July 17th. William Blair upgraded shares of Applied Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Citigroup increased their price target on shares of Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Leerink Partners raised their price objective on shares of Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $12.50.

Applied Therapeutics Stock Performance

The company has a market cap of $1.17 billion, a P/E ratio of -6.27 and a beta of 2.01. The stock has a 50-day moving average of $7.84 and a two-hundred day moving average of $6.00.

Insiders Place Their Bets

In other news, CEO Shoshana Shendelman sold 119,591 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total value of $709,174.63. Following the completion of the sale, the chief executive officer now owns 4,690,839 shares of the company’s stock, valued at approximately $27,816,675.27. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new stake in Applied Therapeutics during the 2nd quarter valued at about $54,000. Principal Financial Group Inc. bought a new stake in Applied Therapeutics in the second quarter valued at approximately $54,000. SG Americas Securities LLC purchased a new stake in shares of Applied Therapeutics during the second quarter valued at approximately $87,000. Intech Investment Management LLC bought a new position in shares of Applied Therapeutics in the third quarter worth approximately $162,000. Finally, Algert Global LLC bought a new position in shares of Applied Therapeutics in the second quarter worth approximately $110,000. 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.