Applied Therapeutics, Inc. (NASDAQ:APLT - Get Free Report) has been assigned a consensus recommendation of "Buy" from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $12.50.
Several research firms have recently issued reports on APLT. Citigroup boosted their price objective 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. William Blair raised shares of Applied Therapeutics to a "strong-buy" rating in a research report on Friday, August 30th. Leerink Partners increased their price target on shares of Applied Therapeutics from $11.00 to $14.00 and gave the stock an "outperform" rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $12.00 price target on shares of Applied Therapeutics in a research report on Wednesday, July 17th.
Read Our Latest Stock Analysis on APLT
In other news, CEO Shoshana Shendelman sold 300,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $5.98, for a total transaction of $1,794,000.00. Following the sale, the chief executive officer now directly owns 5,167,853 shares of the company's stock, valued at $30,903,760.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.60% of the company's stock.
Hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. bought a new position in Applied Therapeutics in the second quarter valued at approximately $54,000. Principal Financial Group Inc. bought a new position in Applied Therapeutics in the second quarter valued at approximately $54,000. SG Americas Securities LLC bought a new position in Applied Therapeutics in the second quarter valued at approximately $87,000. Algert Global LLC bought a new position in Applied Therapeutics in the second quarter valued at approximately $110,000. Finally, The Manufacturers Life Insurance Company bought a new position in Applied Therapeutics in the second quarter valued at approximately $172,000. 98.31% of the stock is owned by institutional investors.
NASDAQ:APLT opened at $9.74 on Friday. The firm's 50-day moving average is $7.76 and its 200-day moving average is $5.95. Applied Therapeutics has a 52-week low of $1.79 and a 52-week high of $9.98. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -6.09 and a beta of 2.01.
Applied Therapeutics (NASDAQ:APLT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $0.14 million for the quarter, compared to the consensus estimate of $10.00 million. Equities analysts predict that Applied Therapeutics will post -0.48 EPS for the current year.
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.
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