Brokerages Set Applied Therapeutics, Inc. (NASDAQ:APLT) PT at $12.50

Applied Therapeutics, Inc. (NASDAQ:APLT) has earned a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $12.50.

APLT has been the subject of several analyst reports. William Blair raised shares of Applied Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Citigroup raised their price target on Applied Therapeutics from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Leerink Partners upped their price objective on Applied Therapeutics from $11.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, September 19th.

Applied Therapeutics Stock Up 1.0 %

APLT stock opened at $9.01 on Friday. Applied Therapeutics has a twelve month low of $1.79 and a twelve month high of $10.62. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -5.46 and a beta of 2.01. The firm’s fifty day simple moving average is $8.06 and its two-hundred day simple moving average is $6.11.

Hedge Funds Weigh In On Applied Therapeutics

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