Applied Therapeutics, Inc. (NASDAQ:APLT) Receives Average Rating of "Moderate Buy" from Brokerages

Applied Therapeutics, Inc. (NASDAQ:APLT - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $6.60.

A number of analysts recently issued reports on the company. UBS Group reaffirmed a "neutral" rating and issued a $2.00 target price (down previously from $13.00) on shares of Applied Therapeutics in a research report on Monday. Robert W. Baird lowered their target price on Applied Therapeutics from $14.00 to $5.00 and set an "outperform" rating on the stock in a research report on Friday. Leerink Partners lifted their target price on Applied Therapeutics from $11.00 to $14.00 and gave the company an "outperform" rating in a research report on Thursday, September 19th. William Blair upgraded Applied Therapeutics to a "strong-buy" rating in a report on Thursday, November 28th. Finally, Citigroup reduced their price target on Applied Therapeutics from $13.00 to $8.00 and set a "buy" rating for the company in a report on Friday.

Institutional Investors Weigh In On Applied Therapeutics

Several institutional investors have recently made changes to their positions in APLT. Ally Bridge Group NY LLC acquired a new position in shares of Applied Therapeutics during the third quarter worth $5,256,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Applied Therapeutics by 34.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 265,372 shares of the company's stock worth $2,256,000 after buying an additional 68,330 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Applied Therapeutics in the second quarter worth $1,325,000. Frazier Life Sciences Management L.P. grew its stake 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 worth $10,676,000 after purchasing an additional 333,278 shares during the last quarter. Finally, Peregrine Capital Management LLC bought a new stake in shares of Applied Therapeutics in the second quarter worth $3,414,000. 98.31% of the stock is currently owned by institutional investors.

Applied Therapeutics Stock Down 3.4 %

Applied Therapeutics stock traded down $0.06 during mid-day trading on Tuesday, hitting $1.69. 9,790,169 shares of the company's stock were exchanged, compared to its average volume of 2,225,323. The firm has a market capitalization of $196.65 million, a P/E ratio of -1.09 and a beta of 1.77. Applied Therapeutics has a fifty-two week low of $1.67 and a fifty-two week high of $10.62. The company's 50 day simple moving average is $8.59 and its 200-day simple moving average is $6.45.

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.