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

Applied Therapeutics, Inc. (NASDAQ:APLT) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $6.10.

Several brokerages recently commented on APLT. Robert W. Baird reduced their price objective on shares of Applied Therapeutics from $14.00 to $5.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. UBS Group restated a “neutral” rating and issued a $2.00 price target (down previously from $13.00) on shares of Applied Therapeutics in a report on Monday, December 2nd. Citigroup dropped their price objective on Applied Therapeutics from $13.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, November 29th. William Blair downgraded Applied Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, December 23rd. Finally, Royal Bank of Canada dropped their price target on Applied Therapeutics from $4.00 to $1.50 and set a “sector perform” rating for the company in a research report on Friday, December 20th.

Applied Therapeutics Trading Down 3.8 %

Shares of APLT stock opened at $0.57 on Wednesday. Applied Therapeutics has a 12-month low of $0.56 and a 12-month high of $10.62. The company has a market cap of $66.44 million, a price-to-earnings ratio of -0.35 and a beta of 1.83. The stock has a 50 day simple moving average of $2.29 and a 200-day simple moving average of $5.42.

Hedge Funds Weigh In On Applied Therapeutics

Hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its stake in shares of Applied Therapeutics by 37.8% during the third quarter. Janus Henderson Group PLC now owns 10,541,528 shares of the company’s stock valued at $89,656,000 after acquiring an additional 2,893,323 shares during the last quarter. State Street Corp lifted its holdings in Applied Therapeutics by 123.1% in the 3rd quarter. State Street Corp now owns 3,694,607 shares of the company’s stock valued at $31,404,000 after purchasing an additional 2,038,724 shares in the last quarter. Ally Bridge Group NY LLC acquired a new stake in shares of Applied Therapeutics during the 3rd quarter worth about $5,256,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Applied Therapeutics by 165.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 735,217 shares of the company’s stock worth $6,249,000 after buying an additional 457,940 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. raised its position in shares of 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 valued at $10,676,000 after buying an additional 333,278 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.