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

Applied Therapeutics, Inc. (NASDAQ:APLT - Get Free Report) has been assigned an average rating of "Buy" from the six ratings firms that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $12.50.

A number of research firms recently commented on APLT. Citigroup upped their price objective on Applied Therapeutics from $8.00 to $11.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $12.00 target price on shares of Applied Therapeutics in a research note on Wednesday, July 17th. Leerink Partners upped their price objective on Applied Therapeutics from $11.00 to $14.00 and gave the stock an "outperform" rating in a research report on Thursday, September 19th. Finally, William Blair upgraded Applied Therapeutics to a "strong-buy" rating in a research note on Friday, August 30th.

Applied Therapeutics Price Performance

NASDAQ APLT traded up $0.35 during trading hours on Friday, reaching $10.09. The company's stock had a trading volume of 1,716,636 shares, compared to its average volume of 1,829,226. Applied Therapeutics has a 1-year low of $1.79 and a 1-year high of $10.09. The company's 50-day moving average is $7.84 and its two-hundred day moving average is $5.99. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -6.31 and a beta of 2.01.

Applied Therapeutics (NASDAQ:APLT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.03). The firm had revenue of $0.14 million during the quarter, compared to analyst estimates of $10.00 million. Equities analysts forecast that Applied Therapeutics will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at Applied Therapeutics

In other news, CEO Shoshana Shendelman sold 119,591 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $5.93, for a total transaction of $709,174.63. Following the completion of the sale, the chief executive officer now owns 4,690,839 shares in the company, valued at approximately $27,816,675.27. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of APLT. Hennion & Walsh Asset Management Inc. boosted its stake in Applied Therapeutics by 34.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 265,372 shares of the company's stock worth $2,256,000 after purchasing an additional 68,330 shares during the period. Algert Global LLC acquired a new stake in Applied Therapeutics during the 2nd quarter worth $110,000. Frazier Life Sciences Management L.P. boosted its stake in Applied Therapeutics by 17.1% during the 2nd 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 period. The Manufacturers Life Insurance Company acquired a new stake in Applied Therapeutics during the 2nd quarter worth $172,000. Finally, Sei Investments Co. acquired a new stake in Applied Therapeutics during the 2nd quarter worth $535,000. 98.31% of the stock is owned by hedge funds and other 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.