Applied Therapeutics (NASDAQ:APLT) Price Target Cut to $5.00 by Analysts at Robert W. Baird

Applied Therapeutics (NASDAQ:APLT - Get Free Report) had its price target dropped by investment analysts at Robert W. Baird from $14.00 to $5.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's target price suggests a potential upside of 146.31% from the stock's current price.

Other research analysts have also issued research reports about the company. Leerink Partners raised 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. Royal Bank of Canada downgraded Applied Therapeutics from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $12.00 to $4.00 in a report on Friday. William Blair raised Applied Therapeutics to a "strong-buy" rating in a research report on Friday, August 30th. Finally, Citigroup increased their price objective on shares of Applied Therapeutics from $8.00 to $11.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Applied Therapeutics has an average rating of "Buy" and a consensus price target of $8.80.

Applied Therapeutics Price Performance

APLT stock traded down $6.54 during mid-day trading on Friday, reaching $2.03. 43,901,180 shares of the company traded hands, compared to its average volume of 2,081,519. Applied Therapeutics has a 52-week low of $1.85 and a 52-week high of $10.62. The company has a market capitalization of $236.20 million, a P/E ratio of -1.26 and a beta of 2.01. The company has a fifty day moving average price of $8.71 and a 200-day moving average price of $6.45.

Hedge Funds Weigh In On Applied Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. bought a new stake in shares of Applied Therapeutics in the second quarter worth approximately $54,000. Principal Financial Group Inc. bought a new stake in Applied Therapeutics in the 2nd quarter worth approximately $54,000. SG Americas Securities LLC purchased a new stake in Applied Therapeutics during the 2nd quarter valued at $87,000. Algert Global LLC bought a new position in shares of Applied Therapeutics during the 2nd quarter valued at $110,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Applied Therapeutics in the 3rd quarter worth $149,000. Hedge funds and other institutional investors own 98.31% of the company's stock.

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.